Foundations Investment Advisors LLC Purchases New Position in Kellanova (NYSE:K)

Foundations Investment Advisors LLC acquired a new position in shares of Kellanova (NYSE:K) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,040 shares of the company’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its holdings in 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. acquired a new stake in shares of Kellanova during the second quarter valued at about $88,065,000. Point72 Asset Management L.P. acquired a new position in shares of Kellanova in the second quarter worth about $63,585,000. Boston Partners boosted its holdings in Kellanova by 117.1% in the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after purchasing an additional 689,395 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Kellanova by 130.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock valued at $62,122,000 after purchasing an additional 608,989 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research note on Monday, August 5th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.32.

Kellanova Stock Down 0.2 %

Kellanova stock opened at $80.88 on Friday. The firm has a market capitalization of $27.88 billion, a P/E ratio of 30.64, a P/E/G ratio of 2.60 and a beta of 0.39. The company has a 50-day simple moving average of $80.60 and a 200-day simple moving average of $67.25. Kellanova has a one year low of $49.79 and a one year high of $81.26. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities analysts expect that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared 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 2.82%. Kellanova’s payout ratio is 86.36%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the sale, the insider now directly owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the transaction, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares in the company, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,191,081 shares of company stock valued at $93,637,014. Company insiders own 1.80% of the company’s stock.

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.