Healthcare of Ontario Pension Plan Trust Fund Invests $4.84 Million in Kellanova (NYSE:K)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Kellanova (NYSE:K - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company's stock, valued at approximately $4,843,000.

Other hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its stake in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after buying an additional 307 shares during the period. MCF Advisors LLC lifted its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after acquiring an additional 137 shares during the period. Blue Trust Inc. grew its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,145,830 shares of company stock worth $92,516,606 over the last three months. Company insiders own 1.80% of the company's stock.

Kellanova Trading Up 0.2 %

NYSE:K traded up $0.14 on Friday, reaching $81.29. The company's stock had a trading volume of 1,054,007 shares, compared to its average volume of 2,993,080. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34. The stock has a 50 day moving average price of $80.82 and a 200 day moving average price of $71.26. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. On average, equities analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio is currently 78.35%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, August 12th. DA Davidson cut Kellanova from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Royal Bank of Canada lowered Kellanova from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Wells Fargo & Company boosted their price target on Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Finally, Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Kellanova has a consensus rating of "Hold" and an average target price of $76.35.

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.