Kellanova $K Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in shares of Kellanova (NYSE:K) by 53.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,000 shares of the company’s stock after purchasing an additional 70,000 shares during the period. Alberta Investment Management Corp owned approximately 0.06% of Kellanova worth $15,906,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in K. Financial Network Wealth Advisors LLC purchased a new stake in Kellanova during the 1st quarter worth $25,000. Trust Co. of Toledo NA OH purchased a new position in Kellanova in the 2nd quarter valued at about $45,000. Dagco Inc. acquired a new stake in shares of Kellanova during the first quarter valued at about $49,000. Cypress Capital Management LLC WY purchased a new stake in shares of Kellanova during the first quarter worth about $54,000. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Kellanova by 32.7% in the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after acquiring an additional 177 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Price Performance

Shares of K opened at $83.32 on Friday. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.45. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.99 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23. The stock has a 50 day moving average of $81.58 and a 200-day moving average of $80.91.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s payout ratio is 63.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price for the company. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.50.

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.