Kellanova $K is Kellogg W K Foundation Trust’s Largest Position

Kellogg W K Foundation Trust reduced its holdings in Kellanova (NYSE:K) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,097,438 shares of the company’s stock after selling 916,680 shares during the quarter. Kellanova comprises 100.0% of Kellogg W K Foundation Trust’s investment portfolio, making the stock its largest position. Kellogg W K Foundation Trust owned approximately 12.97% of Kellanova worth $3,698,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in Kellanova in the second quarter valued at $45,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Kellanova in the 2nd quarter worth about $55,000. Capital Advisors Ltd. LLC boosted its stake in shares of Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after purchasing an additional 177 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Kellanova during the second quarter valued at about $59,000. Finally, ST Germain D J Co. Inc. raised its stake in Kellanova by 114.3% in the second quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock worth $60,000 after buying an additional 400 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $83.44 on Wednesday. The firm has a market capitalization of $29.03 billion, a P/E ratio of 22.92, a PEG ratio of 11.61 and a beta of 0.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.68 and a quick ratio of 0.44. Kellanova has a one year low of $76.48 and a one year high of $83.65. The company’s 50-day simple moving average is $83.36 and its 200 day simple moving average is $81.33.

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

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. Kellanova’s payout ratio is 63.74%.

Analysts Set New Price Targets

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

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.