Quantbot Technologies LP Purchases Shares of 4,680 Kellanova (NYSE:K)

Quantbot Technologies LP purchased a new stake in Kellanova (NYSE:K) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,680 shares of the company’s stock, valued at approximately $378,000.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC raised its stake in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Finally, MCF Advisors LLC grew its position in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

K opened at $80.59 on Wednesday. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company’s 50 day simple moving average is $80.82 and its 200 day simple moving average is $71.65. The stock has a market capitalization of $27.78 billion, a PE ratio of 27.69, a P/E/G ratio of 2.59 and a beta of 0.38.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Analyst Ratings Changes

A number of research firms have commented on K. Stifel Nicolaus raised their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.35.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the sale, the insider now owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,145,830 shares of company stock worth $92,516,606 in the last quarter. 1.80% of the stock is owned by corporate 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.