Kellanova (NYSE:K) Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lifted its stake in shares of Kellanova (NYSE:K) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 81,629 shares of the company’s stock after buying an additional 507 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Kellanova were worth $6,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. D. E. Shaw & Co. Inc. increased its holdings in Kellanova by 766.5% in the second 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 during the last quarter. Maverick Capital Ltd. bought a new stake in shares of Kellanova in the 2nd quarter valued at approximately $88,065,000. Westchester Capital Management LLC acquired a new stake in shares of Kellanova during the 3rd quarter valued at approximately $107,795,000. Point72 Asset Management L.P. bought a new position in Kellanova during the second quarter worth $63,585,000. Finally, Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a report on Saturday. They set a “hold” rating on the stock. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the sale, the insider now owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 1,145,830 shares of company stock valued at $92,568,168. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE K opened at $80.58 on Friday. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The company has a market cap of $27.78 billion, a PE ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38. The stock has a 50 day simple moving average of $80.82 and a 200-day simple moving average of $72.57. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings results 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 company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, equities research analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s dividend payout ratio is presently 78.35%.

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.