Alpine Associates Management Inc. Purchases 296,150 Shares of Kellanova (NYSE:K)

Alpine Associates Management Inc. raised its position in Kellanova (NYSE:K) by 93.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 612,850 shares of the company’s stock after buying an additional 296,150 shares during the quarter. Kellanova comprises about 3.0% of Alpine Associates Management Inc.’s holdings, making the stock its 9th largest position. Alpine Associates Management Inc. owned approximately 0.18% of Kellanova worth $49,622,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Investors Research Corp grew its stake in shares of Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after purchasing an additional 125 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after purchasing an additional 130 shares during the period. Assetmark Inc. grew its stake in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the period. Quent Capital LLC grew its stake in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after purchasing an additional 140 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after acquiring an additional 145 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the transaction, the insider now owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,260,413 shares of company stock worth $102,920,742 in the last three months. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.45 on Friday. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a 12-month low of $52.46 and a 12-month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average is $81.92 and its two-hundred day moving average is $81.13.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

K has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Kellanova in a research note on Tuesday, March 4th. They issued a “hold” rating on the stock. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.96.

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.