25,000 Shares in Kellanova (NYSE:K) Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new stake in shares of Kellanova (NYSE:K - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,000 shares of the company's stock, valued at approximately $2,018,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in K. Ingalls & Snyder LLC purchased a new stake in Kellanova in the third quarter valued at $261,000. Ilex Capital Partners UK LLP boosted its holdings 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 worth $131,091,000 after buying an additional 632,510 shares in the last quarter. Investment Management Corp of Ontario grew its position in shares of Kellanova by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 9,174 shares of the company's stock valued at $740,000 after acquiring an additional 3,000 shares during the period. Janus Henderson Group PLC raised its holdings in Kellanova by 91.2% in the 3rd quarter. Janus Henderson Group PLC now owns 196,185 shares of the company's stock worth $15,833,000 after purchasing an additional 93,586 shares during the period. Finally, Harvest Management LLC purchased a new position in Kellanova during the third quarter worth approximately $9,443,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada cut Kellanova from an "outperform" rating to a "sector perform" rating and boosted their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and raised their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research report on Thursday, August 15th. 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 research note on Monday, August 12th. Finally, The Goldman Sachs Group began coverage on Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 target price on the stock. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.35.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now owns 50,368,272 shares of the company's stock, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,145,830 shares of company stock valued at $92,516,606 over the last quarter. Company insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of K traded down $0.03 on Friday, reaching $80.74. The stock had a trading volume of 1,187,405 shares, compared to its average volume of 2,966,406. The firm has a 50-day moving average of $80.82 and a 200 day moving average of $71.84. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $27.83 billion, a PE ratio of 27.75, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is 78.35%.

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.