Rhumbline Advisers Grows Position in Kellanova (NYSE:K)

Rhumbline Advisers boosted its stake in shares of Kellanova (NYSE:K) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 627,336 shares of the company’s stock after purchasing an additional 7,824 shares during the period. Rhumbline Advisers owned about 0.18% of Kellanova worth $50,795,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. WASHINGTON TRUST Co lifted its position in shares of Kellanova by 11.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,884 shares of the company’s stock worth $153,000 after buying an additional 200 shares in the last quarter. ABC Arbitrage SA bought a new stake in Kellanova during the fourth quarter worth approximately $5,410,000. Blue Trust Inc. grew its stake in shares of Kellanova by 1,086.7% during the fourth quarter. Blue Trust Inc. now owns 5,186 shares of the company’s stock valued at $420,000 after buying an additional 4,749 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of Kellanova by 7.5% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 3,643 shares of the company’s stock valued at $294,000 after buying an additional 255 shares during the last quarter. Finally, Quent Capital LLC grew its stake in shares of Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of K opened at $82.26 on Tuesday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market capitalization of $28.35 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.53 and a beta of 0.37. The business’s 50-day moving average is $81.37 and its two-hundred day moving average is $80.18.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. Research analysts predict that Kellanova will post 3.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on K. StockNews.com began coverage on Kellanova in a report on Sunday. They issued a “hold” rating for the company. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,260,413 shares of company stock worth $102,571,264 in the last ninety days. Insiders own 1.80% of the company’s stock.

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.