Trust Co. of Toledo NA OH Invests $45,000 in Kellanova $K

Trust Co. of Toledo NA OH purchased a new position in shares of Kellanova (NYSE:K) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 560 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinnacle Associates Ltd. lifted its stake in Kellanova by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock valued at $526,000 after buying an additional 123 shares in the last quarter. Independent Advisor Alliance lifted its stake in Kellanova by 1.8% in the 1st quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after buying an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Kellanova by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after buying an additional 132 shares in the last quarter. Cigna Investments Inc. New lifted its stake in Kellanova by 5.3% in the 2nd quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock valued at $222,000 after buying an additional 141 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 0.1%

K stock opened at $82.81 on Tuesday. The company has a market cap of $28.79 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 5.16 and a beta of 0.24. 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 business has a fifty day simple moving average of $80.01 and a 200-day simple moving average of $80.78. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. On average, equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s payout ratio is currently 60.89%.

Insider Activity 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 shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 572,931 shares of company stock worth $45,755,411. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Weiss Ratings upgraded 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.38.

Kellanova 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.