Kellanova $K Shares Purchased by Swedbank AB

Swedbank AB grew its position in Kellanova (NYSE:K) by 10.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 252,161 shares of the company’s stock after purchasing an additional 24,645 shares during the period. Swedbank AB owned approximately 0.07% of Kellanova worth $20,682,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. IFM Investors Pty Ltd grew its holdings in Kellanova by 0.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 52,868 shares of the company’s stock worth $4,121,000 after buying an additional 333 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Kellanova by 50.0% during the third quarter. Farther Finance Advisors LLC now owns 6,624 shares of the company’s stock valued at $543,000 after purchasing an additional 2,209 shares during the period. OFI Invest Asset Management raised its stake in shares of Kellanova by 31.8% during the third quarter. OFI Invest Asset Management now owns 1,648 shares of the company’s stock valued at $135,000 after purchasing an additional 398 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. lifted its holdings in Kellanova by 161.4% in the third quarter. Generali Investments CEE investicni spolecnost a.s. now owns 7,318 shares of the company’s stock worth $600,000 after purchasing an additional 4,518 shares during the period. Finally, Wedmont Private Capital grew its position in Kellanova by 39.9% in the 3rd quarter. Wedmont Private Capital now owns 7,553 shares of the company’s stock valued at $626,000 after buying an additional 2,156 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.50.

Kellanova Stock Performance

NYSE:K opened at $83.44 on Friday. The company has a 50-day moving average of $83.31 and a 200-day moving average of $81.15. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 11.61 and a beta of 0.23. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.65.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a net margin of 10.08% and a return on equity of 31.73%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s dividend payout ratio (DPR) is currently 63.74%.

Kellanova Profile

Kellanova (NYSE: K) is a global consumer foods company formed from the reorganization of the historic Kellogg business. The company focuses on the manufacture, marketing and distribution of packaged food products across several categories, with an emphasis on snacks, ready-to-eat cereals, frozen breakfast and other convenience foods. Kellanova’s operations draw on a long consumer-brands heritage and a portfolio designed to reach everyday retail and snack occasions around the world.

Kellanova’s activities include product development, manufacturing, marketing and global supply-chain management for branded food products.