Kellanova (NYSE:K) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Kellanova (NYSE:K) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,657,709 shares of the company’s stock after acquiring an additional 98,294 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Kellanova were worth $316,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Oakworth Capital Inc. increased its position in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the period. Baker Avenue Asset Management LP increased its holdings in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares during the period. Blue Trust Inc. raised its position in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after purchasing an additional 928 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd grew its position in Kellanova by 1,450.0% during the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock worth $92,000 after purchasing an additional 1,450 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at $1,572,769.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the transaction, the insider now directly owns 52,309,038 shares of the company’s stock, valued at approximately $2,767,148,110.20. The disclosure for this sale can be found here. In the last three months, insiders sold 1,021,200 shares of company stock valued at $57,219,110. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE K traded up $0.72 during trading hours on Wednesday, reaching $62.36. The company’s stock had a trading volume of 1,430,551 shares, compared to its average volume of 3,238,067. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The stock has a market cap of $21.32 billion, a PE ratio of 23.09, a PEG ratio of 2.32 and a beta of 0.39. The company’s 50-day moving average is $56.42 and its two-hundred day moving average is $54.80. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $1.10 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.58 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.59%. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on K. Piper Sandler increased their target price 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 Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Barclays lifted their target price on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.46.

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.