Prudential Financial Inc. Purchases 12,405 Shares of Kellanova $K

Prudential Financial Inc. boosted its position in Kellanova (NYSE:K - Free Report) by 8.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 160,179 shares of the company's stock after acquiring an additional 12,405 shares during the period. Prudential Financial Inc.'s holdings in Kellanova were worth $12,739,000 as of its most recent SEC filing.

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Several other institutional investors have also added to or reduced their stakes in the business. Financial Network Wealth Advisors LLC purchased a new position in shares of Kellanova in the first quarter worth about $25,000. Trust Co. of Toledo NA OH bought a new position in Kellanova in the 2nd quarter worth approximately $45,000. Dagco Inc. bought a new stake in Kellanova during the 1st quarter valued at $49,000. Capital Advisors Ltd. LLC lifted its position in shares of Kellanova by 32.7% during the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company's stock worth $57,000 after acquiring an additional 177 shares in the last quarter. Finally, Avalon Trust Co bought a new position in shares of Kellanova in the first quarter worth $62,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

K has been the topic of a number of analyst reports. Weiss Ratings lowered Kellanova from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. Wall Street Zen upgraded Kellanova from a "sell" rating to a "hold" rating in a research report on Saturday, November 1st. Finally, JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price objective for the company. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.50.

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Check Out Our Latest Research Report on Kellanova

Kellanova Price Performance

Shares of NYSE K opened at $83.64 on Friday. The firm has a market capitalization of $29.10 billion, a P/E ratio of 21.95, a P/E/G ratio of 5.16 and a beta of 0.23. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The stock's 50-day simple moving average is $82.36 and its two-hundred day simple moving average is $80.98. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.65.

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Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company posted $0.91 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova's payout ratio is presently 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.

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