Prospera Private Wealth LLC Purchases Shares of 2,875 Kellanova (NYSE:K)

Prospera Private Wealth LLC purchased a new stake in Kellanova (NYSE:K) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,875 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds also recently made changes to their positions in K. D. E. Shaw & Co. Inc. boosted its holdings in shares of Kellanova by 766.5% in 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 during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Kellanova during the 2nd quarter valued at $88,065,000. Point72 Asset Management L.P. acquired a new position in shares of Kellanova during the 2nd quarter valued at $63,585,000. Boston Partners lifted its holdings in shares of Kellanova by 117.1% during the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after acquiring an additional 689,395 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 608,989 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 994,464 shares of company stock valued at $80,203,479. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, StockNews.com started coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

NYSE K opened at $80.77 on Thursday. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.84 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a 50-day moving average price of $80.75 and a two-hundred day moving average price of $70.43.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

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.