Charles Schwab Investment Management Inc. Raises Position in Kellanova (NYSE:K)

Charles Schwab Investment Management Inc. grew its position in shares of Kellanova (NYSE:K) by 2.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,630,609 shares of the company’s stock after acquiring an additional 35,268 shares during the period. Charles Schwab Investment Management Inc. owned about 0.47% of Kellanova worth $131,606,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in Kellanova in the 2nd quarter worth about $29,000. CVA Family Office LLC lifted its stake in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Finally, MCF Advisors LLC grew its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 1,109,047 shares of company stock worth $89,483,556. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.1 %

K stock opened at $81.11 on Tuesday. The firm has a fifty day moving average price of $80.78 and a 200 day moving average price of $70.85. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The firm has a market cap of $27.96 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s payout ratio is presently 78.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on K. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and raised their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Stifel Nicolaus raised their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Company 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.