Empirical Asset Management LLC Takes Position in Kellanova (NYSE:K)

Empirical Asset Management LLC purchased a new position in Kellanova (NYSE:KFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,327 shares of the company’s stock, valued at approximately $2,618,000.

Several other institutional investors have also bought and sold shares of K. State Street Corp boosted its position in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after buying an additional 196,564 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after buying an additional 277,171 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Kellanova by 766.5% in the 2nd 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 in the last quarter. Finally, Barclays PLC raised its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on K shares. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, StockNews.com started coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.35.

Get Our Latest Research Report on Kellanova

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares of the company’s stock, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 1,031,247 shares of company stock valued at $83,509,236. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Up 0.2 %

Shares of NYSE:K opened at $81.73 on Friday. The firm has a market capitalization of $28.17 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.79. The firm has a fifty day moving average of $80.94 and a 200 day moving average of $76.37.

Kellanova (NYSE:KGet Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. As a group, research analysts anticipate that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

About Kellanova

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kellanova (NYSE:K)

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