316,700 Shares in Kellanova (NYSE:K) Purchased by Alpine Associates Management Inc.

Alpine Associates Management Inc. acquired a new position in Kellanova (NYSE:K) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 316,700 shares of the company’s stock, valued at approximately $25,561,000. Kellanova accounts for approximately 1.2% of Alpine Associates Management Inc.’s portfolio, making the stock its 24th largest holding. Alpine Associates Management Inc. owned approximately 0.09% of Kellanova at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after buying an additional 277,171 shares in the last quarter. Yacktman Asset Management LP boosted its position in shares of Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after purchasing an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Kellanova by 766.5% during 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 purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Kellanova during the 2nd quarter valued at about $88,065,000. Finally, TD Asset Management Inc boosted its position in shares of Kellanova by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after purchasing an additional 40,406 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total value of $6,272,236.00. Following the sale, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. This trade represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 994,464 shares of company stock worth $80,203,479. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE K opened at $80.50 on Wednesday. The company has a 50 day simple moving average of $80.73 and a 200-day simple moving average of $70.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market capitalization of $27.75 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings data 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 firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 annualized dividend and a yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on K. Barclays raised their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Piper Sandler raised their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company raised their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, BNP Paribas cut shares of 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 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 stock presently has an average rating of “Hold” and an average target price of $76.35.

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.