CIBC Asset Management Inc Buys 1,400 Shares of Kellanova (NYSE:K)

CIBC Asset Management Inc lifted its position in shares of Kellanova (NYSE:K) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,301 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. CIBC Asset Management Inc’s holdings in Kellanova were worth $3,992,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of K. Westchester Capital Management LLC bought a new position in shares of Kellanova in the third quarter valued at approximately $107,795,000. Barclays PLC grew its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. State Street Corp lifted its position in shares of Kellanova by 5.2% during the third 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. Ilex Capital Partners UK LLP grew its position in Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas purchased a new stake in Kellanova in the 4th quarter valued at about $29,595,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares in the company, valued at $3,963,004,221.30. 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 the SEC website. Insiders have sold a total of 1,145,830 shares of company stock worth $93,291,187 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Up 0.0 %

Shares of NYSE:K opened at $82.44 on Friday. 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 52-week low of $52.46 and a 52-week high of $82.49. The firm has a market capitalization of $28.42 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.37. The stock has a 50 day moving average price of $81.47 and a 200-day moving average price of $80.63.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on K. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. Royal Bank of Canada raised 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. Finally, StockNews.com began coverage on Kellanova in a report on Sunday, February 16th. They set a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus target price of $77.96.

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.