Optas LLC Makes New $273,000 Investment in Kellanova (NYSE:K)

Optas LLC acquired a new stake in shares of Kellanova (NYSE:K) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,370 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB increased its stake in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares during the period. Principal Financial Group Inc. raised its stake in Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Wedmont Private Capital acquired a new stake in Kellanova during the 4th quarter worth about $384,000. Finally, Barclays PLC increased its holdings in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

Shares of K stock opened at $81.74 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.06. The business’s 50 day moving average is $81.15 and its two-hundred day moving average is $78.62. The company has a market capitalization of $28.18 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.51 and a beta of 0.37.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on K. StockNews.com initiated coverage on Kellanova in a research report on Friday, January 31st. They issued a “hold” rating on the stock. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average target price of $77.96.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock valued at $83,724,652 in the last three months. 1.80% of the stock is currently owned by company insiders.

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.