AlphaQuest LLC Grows Stake in Kellanova (NYSE:K)

AlphaQuest LLC increased its holdings in shares of Kellanova (NYSE:K - Free Report) by 145.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,831 shares of the company's stock after purchasing an additional 5,236 shares during the quarter. AlphaQuest LLC's holdings in Kellanova were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in shares of Kellanova by 5.2% during the third 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 in the last quarter. Geode Capital Management LLC boosted its stake in Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock valued at $541,052,000 after buying an additional 196,564 shares during the last quarter. Barclays PLC boosted its stake in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company's stock valued at $136,103,000 after buying an additional 50,303 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its stake in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock valued at $131,091,000 after buying an additional 632,510 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada raised Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target for the company in a research note on Tuesday, February 18th. StockNews.com assumed coverage on Kellanova in a research note on Wednesday. They set a "hold" rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $77.96.

Remove Ads

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 1,145,830 shares of company stock valued at $93,673,894. Insiders own 1.80% of the company's stock.

Kellanova Price Performance

NYSE:K opened at $82.28 on Wednesday. Kellanova has a 1 year low of $52.46 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 4.21 and a beta of 0.31. The business has a 50 day simple moving average of $81.98 and a 200-day simple moving average of $81.16.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. Equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova's dividend payout ratio is currently 58.91%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.