Kellanova
About: Following its split from the North American cereal business in October 2023, Kellanova (previously the global snacking arm of Kellogg) has operated as a leading global manufacturer and marketer of salty snacks, snack bars, frozen breakfast fare, meat alternatives, and other packaged foods. Its offerings are manufactured in around 20 countries and marketed in more than 180 countries. Its product mix includes well-known brands such as Pringles, Cheez-It, Rice Krispies Treats, Pop-Tarts, Eggo, Nutri-Grain, and Morningstar Farms. Sales beyond its home turf account for about half of Kellanova's consolidated sales base. Mars is slated to acquire the newly independent business in a nearly $36 billion deal in the first half of calendar 2025.
Employees: 23,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
257% more funds holding in top 10
Funds holding in top 10: 7 [Q2] → 25 (+18) [Q3]
29% more capital invested
Capital invested by funds: $17.3B [Q2] → $22.2B (+$4.94B) [Q3]
26% more first-time investments, than exits
New positions opened: 173 | Existing positions closed: 137
13% more call options, than puts
Call options by funds: $401M | Put options by funds: $354M
4% more funds holding
Funds holding: 853 [Q2] → 889 (+36) [Q3]
7.5% less ownership
Funds ownership: 87.52% [Q2] → 80.02% (-7.5%) [Q3]
38% less repeat investments, than reductions
Existing positions increased: 216 | Existing positions reduced: 351
Research analyst outlook
We haven’t received any recent analyst ratings for K.
Financial journalist opinion
Based on 7 articles about K published over the past 30 days
