Greenland Capital Management LP Buys 121,432 Shares of Kellanova $K

Greenland Capital Management LP increased its holdings in shares of Kellanova (NYSE:K) by 244.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 171,071 shares of the company’s stock after acquiring an additional 121,432 shares during the quarter. Kellanova comprises about 1.4% of Greenland Capital Management LP’s investment portfolio, making the stock its 10th largest holding. Greenland Capital Management LP’s holdings in Kellanova were worth $13,605,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of K. Financial Network Wealth Advisors LLC bought a new position in shares of Kellanova during the first quarter worth approximately $25,000. Trust Co. of Toledo NA OH acquired a new stake in Kellanova during the second quarter worth approximately $45,000. Dagco Inc. acquired a new stake in Kellanova during the first quarter worth approximately $49,000. Capital Advisors Ltd. LLC increased its stake in Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after acquiring an additional 177 shares during the period. Finally, ST Germain D J Co. Inc. raised its holdings in Kellanova by 114.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock valued at $60,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.50.

Kellanova Trading Up 0.1%

Shares of NYSE K opened at $83.45 on Wednesday. The firm has a 50 day moving average price of $81.74 and a two-hundred day moving average price of $80.91. The stock has a market cap of $29.04 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.47. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s dividend payout ratio is 63.74%.

About Kellanova

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.