Alliancebernstein L.P. Has $81.51 Million Stock Holdings in Kellanova (NYSE:K)

Alliancebernstein L.P. lifted its holdings in Kellanova (NYSE:K - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,006,698 shares of the company's stock after buying an additional 97,490 shares during the quarter. Alliancebernstein L.P. owned about 0.29% of Kellanova worth $81,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new position in Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Up 0.3 %

Kellanova stock traded up $0.25 during mid-day trading on Tuesday, hitting $81.89. 1,335,497 shares of the company's stock were exchanged, compared to its average volume of 2,701,522. The company's 50 day simple moving average is $82.30 and its 200-day simple moving average is $81.41. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.27 billion, a P/E ratio of 21.16, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22.

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

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova's payout ratio is currently 58.91%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on K. StockNews.com started coverage on Kellanova in a research note on Saturday. They set a "hold" rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $77.96.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the sale, the insider now owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,558,970 over the last quarter. 1.80% of the stock is currently owned by company insiders.

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.