56,783 Shares in Kellanova $K Acquired by NINE MASTS CAPITAL Ltd

NINE MASTS CAPITAL Ltd bought a new position in shares of Kellanova (NYSE:K) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 56,783 shares of the company’s stock, valued at approximately $4,516,000. Kellanova comprises approximately 1.4% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 15th biggest holding.

A number of other large investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its stake in Kellanova by 66.1% in the first quarter. Avantax Advisory Services Inc. now owns 15,544 shares of the company’s stock worth $1,282,000 after acquiring an additional 6,186 shares during the period. Cetera Investment Advisers raised its position in shares of Kellanova by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 84,926 shares of the company’s stock worth $7,006,000 after acquiring an additional 1,928 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Kellanova by 5.1% during the 1st quarter. HB Wealth Management LLC now owns 7,088 shares of the company’s stock worth $585,000 after purchasing an additional 345 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kellanova by 2.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,622 shares of the company’s stock valued at $10,610,000 after purchasing an additional 3,473 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Kellanova by 12.6% in the first quarter. Mackenzie Financial Corp now owns 26,290 shares of the company’s stock worth $2,169,000 after purchasing an additional 2,947 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K stock opened at $83.64 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The business has a fifty day moving average of $82.36 and a 200 day moving average of $80.98. The firm has a market capitalization of $29.10 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.65.

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

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

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

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.