Chevy Chase Trust Holdings LLC raised its stake in Kellanova (NYSE:K – Free Report) by 0.7% during the second quarter, HoldingsChannel reports. The fund owned 142,613 shares of the company’s stock after buying an additional 1,007 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Kellanova were worth $11,342,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of K. GAMMA Investing LLC grew its stake in shares of Kellanova by 2.8% in the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company’s stock worth $568,000 after acquiring an additional 186 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Kellanova by 22.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company’s stock valued at $1,637,000 after purchasing an additional 3,665 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Kellanova by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 31,506 shares of the company’s stock valued at $2,598,000 after purchasing an additional 850 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Kellanova by 12.1% during the first quarter. Blue Trust Inc. now owns 5,811 shares of the company’s stock valued at $479,000 after purchasing an additional 625 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Kellanova by 0.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 40,733 shares of the company’s stock valued at $3,360,000 after purchasing an additional 299 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
Kellanova Stock Up 0.2%
K stock opened at $83.09 on Monday. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22. The business’s 50-day moving average is $80.25 and its two-hundred day moving average is $80.79. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The company has a market cap of $28.89 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 5.16 and a beta of 0.24.
Kellanova Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. Kellanova’s dividend payout ratio is currently 60.89%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on K. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Finally, Weiss Ratings raised Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.38.
Get Our Latest Stock Report on Kellanova
Insider Buying and Selling
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was 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 owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 458,348 shares of company stock valued at $36,597,937 in the last three months. Corporate insiders own 1.80% of the company’s stock.
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.
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