24,500 Shares in Kellanova (NYSE:K) Purchased by Twin Securities Inc.

Twin Securities Inc. acquired a new stake in shares of Kellanova (NYSE:K) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 24,500 shares of the company’s stock, valued at approximately $1,977,000. Kellanova makes up approximately 2.2% of Twin Securities Inc.’s investment portfolio, making the stock its 9th biggest position.

A number of other large investors also recently bought and sold shares of K. Investors Research Corp lifted its position in shares of Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after buying an additional 125 shares during the last quarter. Assetmark Inc. lifted its holdings in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares during the last quarter. MCF Advisors LLC boosted its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. S.A. Mason LLC grew its holdings in shares of Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the subject of a number of recent research reports. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a research report on Thursday. They issued a “hold” rating on the stock. Stifel Nicolaus upped their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Wells Fargo & Company lifted their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.35.

Kellanova Trading Up 0.2 %

Shares of Kellanova stock opened at $81.30 on Friday. The business has a fifty day simple moving average of $80.82 and a 200-day simple moving average of $71.26. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The firm has a market cap of $28.02 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth 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:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. On average, equities analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now owns 49,222,442 shares in the company, 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 hyperlink. Over the last 90 days, insiders have sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is owned by insiders.

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.