PGGM Investments Acquires 990 Shares of Kellanova (NYSE:K)

PGGM Investments grew its holdings in Kellanova (NYSE:K) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,132 shares of the company’s stock after acquiring an additional 990 shares during the period. PGGM Investments’ holdings in Kellanova were worth $1,685,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Kellanova by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,559,415 shares of the company’s stock worth $330,841,000 after buying an additional 200,870 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Kellanova by 29.4% in the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Kellanova by 27.4% in the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after buying an additional 1,051,922 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Kellanova by 8.7% in the third quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after buying an additional 328,658 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Kellanova by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 2,474,763 shares of the company’s stock worth $147,273,000 after buying an additional 61,797 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

NYSE:K opened at $57.73 on Monday. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The company has a 50-day moving average of $55.96 and a 200-day moving average of $54.33. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. As a group, equities research analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. Barclays increased their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Citigroup began coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.27.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the sale, the insider now owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 855,800 shares of company stock worth $47,378,644 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Kellanova Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.