Foundations Investment Advisors LLC Acquires 196 Shares of Kellanova (NYSE:K)

Foundations Investment Advisors LLC grew its holdings in shares of Kellanova (NYSE:K) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,236 shares of the company’s stock after acquiring an additional 196 shares during the period. Foundations Investment Advisors LLC’s holdings in Kellanova were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of K. State Street Corp boosted its position in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC lifted its stake in Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after buying an additional 196,564 shares during the period. Barclays PLC boosted its holdings in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after buying an additional 35,268 shares during the period. Finally, Ilex Capital Partners UK LLP increased its stake in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after acquiring an additional 632,510 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This represents 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 at this link. Insiders have sold a total of 1,031,247 shares of company stock worth $83,724,652 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $81.95 on Friday. The firm has a market cap of $28.25 billion, a P/E ratio of 28.16, a P/E/G ratio of 2.50 and a beta of 0.37. The firm’s fifty day moving average is $81.11 and its 200 day moving average is $78.10. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.06. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue was down .7% on a year-over-year basis. Research analysts predict that Kellanova will post 3.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on K. StockNews.com initiated coverage on shares of Kellanova in a report on Friday. They set a “hold” rating on the stock. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.35.

About Kellanova

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.