Assenagon Asset Management S.A. Acquires 354 Shares of Kellanova (NYSE:K)

Assenagon Asset Management S.A. lifted its stake in Kellanova (NYSE:K) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 17,288 shares of the company’s stock after purchasing an additional 354 shares during the period. Assenagon Asset Management S.A.’s holdings in Kellanova were worth $1,400,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in K. D. E. Shaw & Co. Inc. grew its holdings in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Kellanova in the 2nd quarter worth approximately $88,065,000. Westchester Capital Management LLC bought a new position in shares of Kellanova during the third quarter valued at approximately $107,795,000. Point72 Asset Management L.P. purchased a new position in Kellanova during the second quarter valued at approximately $63,585,000. Finally, Barclays PLC raised its stake in Kellanova by 134.7% in the third 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. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of NYSE:K opened at $81.78 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.82. The firm has a market capitalization of $28.19 billion, a PE ratio of 28.10, a P/E/G ratio of 2.50 and a beta of 0.37. The business’s 50 day moving average price is $80.99 and its 200-day moving average price is $77.21.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on K. StockNews.com started coverage on Kellanova in a research report on Thursday. They issued a “hold” rating for the company. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Finally, Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.35.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock valued at $83,592,882 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Kellanova 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.