Ilex Capital Partners UK LLP Purchases 632,510 Shares of Kellanova (NYSE:K)

Ilex Capital Partners UK LLP grew its stake in Kellanova (NYSE:K) by 63.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,624,222 shares of the company’s stock after purchasing an additional 632,510 shares during the period. Kellanova makes up approximately 8.8% of Ilex Capital Partners UK LLP’s portfolio, making the stock its 2nd biggest holding. Ilex Capital Partners UK LLP owned about 0.47% of Kellanova worth $131,091,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after buying an additional 277,171 shares in the last quarter. Yacktman Asset Management LP boosted its stake in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after buying an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Kellanova by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after buying an additional 35,268 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Kellanova in the second quarter valued at approximately $88,065,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on K. Deutsche Bank Aktiengesellschaft boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. StockNews.com began coverage on Kellanova in a research report on Thursday, November 28th. They set a “hold” rating on the stock. Wells Fargo & Company boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.35.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Down 0.1 %

NYSE:K traded down $0.05 on Tuesday, hitting $80.65. 100,303 shares of the stock were exchanged, compared to its average volume of 2,979,203. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. The stock has a market cap of $27.80 billion, a PE ratio of 27.74, a PEG ratio of 2.61 and a beta of 0.38. The stock has a fifty day moving average of $80.82 and a 200-day moving average of $71.52.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business 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. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

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.