Barclays PLC Purchases 1,033,383 Shares of Kellanova (NYSE:K)

Barclays PLC grew its holdings in shares of Kellanova (NYSE:K - Free Report) by 134.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,800,363 shares of the company's stock after acquiring an additional 1,033,383 shares during the quarter. Barclays PLC owned 0.52% of Kellanova worth $145,309,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. increased its stake in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Kellanova in the second quarter valued at approximately $88,065,000. Westchester Capital Management LLC acquired a new position in shares of Kellanova in the third quarter valued at approximately $107,795,000. Point72 Asset Management L.P. acquired a new position in shares of Kellanova in the second quarter valued at approximately $63,585,000. Finally, State Street Corp increased its stake in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Performance

Shares of K stock traded down $0.02 on Wednesday, hitting $80.68. 1,648,020 shares of the stock were exchanged, compared to its average volume of 2,947,578. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $27.81 billion, a PE ratio of 27.71, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a one year low of $52.46 and a one year high of $81.34. The firm's 50 day moving average is $80.82 and its two-hundred day moving average is $72.31.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm's quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova's dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analyst Weigh In

K has been the topic of several analyst reports. Wells Fargo & Company upped their target price on Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Royal Bank of Canada cut Kellanova from an "outperform" rating to a "sector perform" rating and upped their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Piper Sandler increased their price target on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a report on Thursday, August 15th. BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Finally, Argus cut Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus target price of $76.35.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $80.68, for a total transaction of $9,244,556.44. Following the transaction, the insider now directly owns 50,253,689 shares of the company's stock, valued at approximately $4,054,467,628.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 1,145,830 shares of company stock worth $92,568,168. 1.80% of the stock is currently owned by insiders.

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.