Securian Asset Management Inc. Has $929,000 Stock Holdings in Kellanova (NYSE:K)

Securian Asset Management Inc. reduced its holdings in shares of Kellanova (NYSE:KFree Report) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,611 shares of the company’s stock after selling 2,305 shares during the period. Securian Asset Management Inc.’s holdings in Kellanova were worth $929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. grew its stake in Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after buying an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp increased its holdings in Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after purchasing an additional 1,051,922 shares in the last quarter. Anchor Capital Advisors LLC acquired a new position in Kellanova in the fourth quarter worth $38,939,000. Boston Partners bought a new stake in shares of Kellanova during the fourth quarter worth $32,913,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Kellanova by 738.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock valued at $23,522,000 after buying an additional 370,607 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $55.78, for a total value of $4,339,684.00. Following the completion of the transaction, the insider now directly owns 52,464,638 shares of the company’s stock, valued at $2,926,477,507.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $55.78, for a total value of $4,339,684.00. Following the transaction, the insider now owns 52,464,638 shares of the company’s stock, valued at $2,926,477,507.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 943,400 shares of company stock valued at $54,183,354. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, TD Cowen increased their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.85.

Check Out Our Latest Analysis on Kellanova

Kellanova Trading Up 0.3 %

NYSE:K opened at $62.25 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $69.61. The company has a market cap of $21.28 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. The business has a 50 day moving average price of $57.98 and a two-hundred day moving average price of $55.60.

Kellanova (NYSE:KGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.60%. Kellanova’s payout ratio is presently 83.90%.

About Kellanova

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Kellanova (NYSE:K)

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