ING Groep NV Purchases 19,540 Shares of Kellanova (NYSE:K)

ING Groep NV grew its position in shares of Kellanova (NYSE:K) by 22.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,100 shares of the company’s stock after acquiring an additional 19,540 shares during the period. ING Groep NV’s holdings in Kellanova were worth $8,644,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova in the 2nd quarter worth about $29,000. CVA Family Office LLC boosted its stake in shares of 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 purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. Finally, MCF Advisors LLC raised its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on K shares. The Goldman Sachs Group initiated coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.35.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents 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 through this hyperlink. Insiders have sold a total of 1,072,264 shares of company stock valued at $86,452,375 in the last quarter. 1.80% of the stock is currently owned by insiders.

Kellanova Trading Down 0.3 %

Shares of Kellanova stock opened at $80.58 on Friday. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.61 and a beta of 0.39. The company has a fifty day moving average of $80.70 and a 200 day moving average of $69.75.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio is presently 78.35%.

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.