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

Alberta Investment Management Corp boosted its holdings in shares of Kellanova (NYSE:K) by 62.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Kellanova in the 4th quarter valued at approximately $384,000. Barclays PLC increased its holdings in shares of Kellanova by 134.7% in the 3rd 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 last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kellanova in the 3rd quarter valued at approximately $4,211,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.1 %

Shares of K stock opened at $82.40 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.49. The stock has a fifty day moving average of $81.44 and a two-hundred day moving average of $80.49. The firm has a market capitalization of $28.40 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts expect that Kellanova will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on K shares. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. StockNews.com started coverage on Kellanova in a report on Sunday. They issued a “hold” rating for the company. Finally, 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 report on Tuesday. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.96.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on 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 sale, the insider now owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 1,145,830 shares of company stock worth $93,291,187. 1.80% of the stock is owned by company insiders.

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.