Versor Investments LP Buys Shares of 54,753 Kellanova (NYSE:K)

Versor Investments LP purchased a new position in shares of Kellanova (NYSE:K - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 54,753 shares of the company's stock, valued at approximately $4,419,000. Kellanova comprises 0.7% of Versor Investments LP's holdings, making the stock its 12th largest position.

A number of other hedge funds have also made changes to their positions in K. Blue Trust Inc. boosted its position in shares of Kellanova by 57.2% in 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 period. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC raised its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Kellanova by 61.9% during the 2nd 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. Finally, MCF Advisors LLC grew 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 purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares in the company, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares of the company's stock, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on Kellanova in a research note on Monday, August 12th. They issued a "neutral" rating and a $75.00 target price on the stock. Barclays increased their price target on Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a report on Thursday, August 15th. Bank of America raised shares of Kellanova from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a report on Monday, August 12th. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $76.35.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.10 on Monday, hitting $81.10. The company's stock had a trading volume of 1,410,190 shares, compared to its average volume of 3,056,599. The company has a market capitalization of $27.96 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.26. The firm has a fifty day moving average price of $80.65 and a 200-day moving average price of $69.19. 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 issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 company's revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. On average, equities research analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company 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. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova's payout ratio 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.