KBC Group NV Increases Stock Holdings in Kellanova $K

KBC Group NV increased its position in shares of Kellanova (NYSE:K) by 550.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 412,422 shares of the company’s stock after buying an additional 349,058 shares during the period. KBC Group NV’s holdings in Kellanova were worth $32,800,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pentwater Capital Management LP boosted its holdings in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after purchasing an additional 2,245,000 shares during the period. JPMorgan Chase & Co. lifted its stake in Kellanova by 66.3% in the first quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after buying an additional 962,172 shares during the last quarter. Syquant Capital Sas boosted its holdings in shares of Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after acquiring an additional 632,168 shares during the period. Alpine Associates Management Inc. grew its position in shares of Kellanova by 89.0% during the first quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company’s stock worth $95,536,000 after acquiring an additional 545,300 shares during the last quarter. Finally, PSquared Asset Management AG bought a new position in shares of Kellanova during the first quarter worth about $28,905,000. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on K shares. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. assumed coverage on Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $83.50.

Kellanova Price Performance

Shares of NYSE K opened at $83.27 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 5.16 and a beta of 0.23. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.45. The firm has a 50-day moving average of $81.51 and a two-hundred day moving average of $80.92.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. Kellanova’s dividend payout ratio is 63.74%.

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.