Kellanova (NYSE:K) Shares Acquired by Assetmark Inc.

Assetmark Inc. boosted its stake in Kellanova (NYSE:K) by 26.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 631 shares of the company’s stock after purchasing an additional 131 shares during the period. Assetmark Inc.’s holdings in Kellanova were worth $51,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in K. Sei Investments Co. lifted its position in shares of Kellanova by 2.6% during the 1st quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock worth $4,537,000 after purchasing an additional 1,984 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Kellanova by 12.9% during the first quarter. Blair William & Co. IL now owns 30,175 shares of the company’s stock worth $1,729,000 after acquiring an additional 3,441 shares during the period. Edgestream Partners L.P. increased its stake in shares of Kellanova by 23.2% during the first quarter. Edgestream Partners L.P. now owns 22,751 shares of the company’s stock worth $1,303,000 after acquiring an additional 4,280 shares during the period. Clearbridge Investments LLC grew its position in Kellanova by 3.0% during the first quarter. Clearbridge Investments LLC now owns 651,836 shares of the company’s stock worth $37,344,000 after buying an additional 19,170 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in Kellanova by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of several recent research reports. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective for the company. 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. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, StockNews.com started coverage on shares of Kellanova in a report on Tuesday, November 12th. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Up 0.0 %

Shares of NYSE:K opened at $80.60 on Tuesday. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company’s 50-day moving average price is $80.72 and its two-hundred day moving average price is $70.15. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.78 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, research 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. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 1,072,264 shares of company stock valued at $86,452,375. 1.80% of the stock is currently 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.