ClearAlpha Technologies LP Buys Shares of 88,647 Kellanova (NYSE:K)

ClearAlpha Technologies LP purchased a new position in shares of Kellanova (NYSE:KFree Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 88,647 shares of the company’s stock, valued at approximately $7,155,000. Kellanova accounts for approximately 2.0% of ClearAlpha Technologies LP’s portfolio, making the stock its 12th biggest holding.

Several other large investors also recently added to or reduced their stakes in the company. Swedbank AB raised its holdings in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after acquiring an additional 46,450 shares during the period. SG Americas Securities LLC lifted its holdings in Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after purchasing an additional 217,320 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares during the period. Atria Investments Inc purchased a new position in Kellanova during the 1st quarter valued at about $1,003,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Kellanova during the 3rd quarter valued at about $4,211,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on K. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target for the company. StockNews.com initiated coverage on shares of Kellanova in a report on Thursday. They issued a “hold” rating on the stock. Piper Sandler lifted their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Barclays raised their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.35.

Read Our Latest Stock Analysis on Kellanova

Kellanova Stock Performance

Kellanova stock opened at $81.29 on Monday. The firm has a fifty day simple moving average of $80.82 and a two-hundred day simple moving average of $71.39. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The company has a market capitalization of $28.02 billion, a PE ratio of 27.93, a P/E/G ratio of 2.61 and a beta of 0.39. 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:KGet Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The company 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%. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. Research analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova’s dividend payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova 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 directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 1,145,830 shares of company stock valued at $92,516,606 in the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Profile

(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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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