Kellanova (NYSE:K) Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp increased its stake in shares of Kellanova (NYSE:K) by 62.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Alberta Investment Management Corp’s holdings in Kellanova were worth $10,526,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of K. Westchester Capital Management LLC acquired a new stake in Kellanova in the third quarter valued at $107,795,000. Barclays PLC lifted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. State Street Corp lifted its holdings in Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the period. Ilex Capital Partners UK LLP lifted its holdings in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after acquiring an additional 632,510 shares during the period. Finally, Syquant Capital Sas acquired a new stake in Kellanova in the fourth quarter valued at $29,595,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

K has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday. StockNews.com initiated coverage on Kellanova in a research report on Sunday. They issued a “hold” rating for the company. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $82.40 on Thursday. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.49. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $81.44 and its two-hundred day moving average price is $80.49.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, research analysts forecast that Kellanova will post 3.92 EPS for the current year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the transaction, the insider now directly owns 49,107,859 shares of the company’s stock, valued at $3,963,004,221.30. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 1,145,830 shares of company stock valued at $93,291,187 in the last three months. Corporate insiders own 1.80% of the company’s stock.

About Kellanova

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.