Nordea Investment Management AB Has $2.98 Million Stock Holdings in Kellanova $K

Nordea Investment Management AB lowered its stake in Kellanova (NYSE:K) by 2.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 37,646 shares of the company’s stock after selling 780 shares during the period. Nordea Investment Management AB’s holdings in Kellanova were worth $2,983,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Network Wealth Advisors LLC acquired a new position in Kellanova in the 1st quarter valued at about $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova in the 1st quarter valued at about $27,000. Trust Co. of Toledo NA OH acquired a new position in Kellanova in the 2nd quarter valued at about $45,000. Dagco Inc. bought a new stake in Kellanova in the 1st quarter valued at about $49,000. Finally, Cypress Capital Management LLC WY bought a new stake in Kellanova in the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 458,348 shares of company stock valued at $36,597,937. 1.80% of the stock is owned by insiders.

Kellanova Stock Up 0.0%

K opened at $83.01 on Thursday. The firm has a market capitalization of $28.86 billion, a P/E ratio of 21.79, a PEG ratio of 5.16 and a beta of 0.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22. The company’s 50-day moving average is $80.42 and its 200 day moving average is $80.83.

Kellanova (NYSE:K) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. Research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. This is a boost from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio is presently 60.89%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on K. JPMorgan Chase & Co. began coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Wall Street Zen cut shares of Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.38.

About Kellanova

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.