Oppenheimer Asset Management Inc. Takes $203,000 Position in Kellanova (NYSE:K)

Oppenheimer Asset Management Inc. bought a new stake in Kellanova (NYSE:KFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,404 shares of the company’s stock, valued at approximately $203,000. Oppenheimer Asset Management Inc. owned 0.62% of Kellanova as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sandy Spring Bank grew its position in Kellanova by 902.5% during the 2nd quarter. Sandy Spring Bank now owns 401 shares of the company’s stock valued at $27,000 after purchasing an additional 361 shares during the last quarter. CGC Financial Services LLC bought a new stake in shares of Kellanova during the second quarter valued at approximately $27,000. Oakworth Capital Inc. raised its holdings in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. RFP Financial Group LLC bought a new position in Kellanova in the 2nd quarter valued at approximately $30,000. Finally, Norwood Financial Corp increased its holdings in shares of Kellanova by 81.8% in the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Down 2.6 %

K opened at $53.49 on Friday. The firm has a 50-day simple moving average of $54.79 and a two-hundred day simple moving average of $56.10. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company has a market capitalization of $18.32 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.19 and a beta of 0.39. The company has a quick ratio of 0.51, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:KGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue was up .3% on a year-over-year basis. Analysts forecast that Kellanova will post 3.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on K shares. JPMorgan Chase & Co. lifted their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company increased their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley cut their price objective on Kellanova from $68.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, November 9th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TheStreet lowered shares of Kellanova from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $61.36.

Get Our Latest Research Report on K

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $52.21, for a total value of $4,061,938.00. Following the completion of the transaction, the insider now owns 53,398,238 shares of the company’s stock, valued at approximately $2,787,922,005.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 700,200 shares of company stock valued at $37,956,286. Insiders own 1.40% of the company’s stock.

Kellanova Company Profile

(Free Report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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