235,602 Shares in Kellanova (NYSE:K) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in shares of Kellanova (NYSE:K) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 235,602 shares of the company’s stock, valued at approximately $19,015,000. Kellanova makes up 1.0% of Cinctive Capital Management LP’s investment portfolio, making the stock its 14th largest position. Cinctive Capital Management LP owned approximately 0.07% of Kellanova at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of K. Investors Research Corp raised its stake in shares of Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares during the period. MCF Advisors LLC lifted its stake in shares of 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 acquiring an additional 137 shares during the last quarter. S.A. Mason LLC lifted its position in Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after purchasing an additional 140 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $81.29 on Monday. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $28.02 billion, a P/E ratio of 27.93, a PEG ratio of 2.61 and a beta of 0.39. The stock’s 50 day moving average is $80.82 and its 200 day moving average is $71.39.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion for 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 quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analyst Ratings Changes

K has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. Stifel Nicolaus upped their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was 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 through this link. Over the last 90 days, insiders have sold 1,145,830 shares of company stock worth $92,516,606. Corporate 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.