ABC Arbitrage SA Takes $5.41 Million Position in Kellanova (NYSE:K)

ABC Arbitrage SA acquired a new position in shares of Kellanova (NYSE:K - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 66,818 shares of the company's stock, valued at approximately $5,410,000. Kellanova makes up about 0.8% of ABC Arbitrage SA's portfolio, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company's stock worth $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC raised its holdings in shares of Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock worth $541,052,000 after buying an additional 196,564 shares during the period. Barclays PLC raised its holdings in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after buying an additional 1,033,383 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company's stock worth $131,606,000 after acquiring an additional 35,268 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its holdings in Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock valued at $131,091,000 after acquiring an additional 632,510 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Up 0.1 %

Shares of K stock traded up $0.08 on Wednesday, hitting $82.40. 2,495,416 shares of the stock traded hands, compared to its average volume of 2,404,427. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.49. The firm's 50-day moving average price is $81.44 and its two-hundred day moving average price is $80.49. The stock has a market capitalization of $28.40 billion, a PE ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, analysts anticipate that Kellanova will post 3.92 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on K shares. Royal Bank of Canada raised shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research note on Tuesday. StockNews.com assumed coverage on shares of Kellanova in a research report on Sunday. They set a "hold" rating on the stock. Finally, BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $77.96.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares of the company's stock, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 1,260,413 shares of company stock valued at $102,571,264. 1.80% of the stock is currently owned by company insiders.

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.