257,561 Shares in Kellanova $K Bought by Caxton Associates LLP

Caxton Associates LLP purchased a new stake in shares of Kellanova (NYSE:K) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 257,561 shares of the company’s stock, valued at approximately $21,246,000. Kellanova comprises about 0.7% of Caxton Associates LLP’s holdings, making the stock its 20th largest holding. Caxton Associates LLP owned 0.07% of Kellanova at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Financial Counselors Inc. bought a new position in Kellanova during the 1st quarter worth approximately $522,000. IFM Investors Pty Ltd increased its holdings in shares of Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock worth $4,620,000 after purchasing an additional 5,957 shares in the last quarter. Retirement Guys Formula LLC bought a new stake in shares of Kellanova in the first quarter worth $934,000. Syquant Capital Sas grew its holdings in Kellanova by 39.9% during the first quarter. Syquant Capital Sas now owns 511,400 shares of the company’s stock valued at $42,185,000 after purchasing an additional 145,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kellanova by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after acquiring an additional 3,747 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 1,145,846 shares of company stock worth $91,267,778 in the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $79.86 on Monday. The company has a fifty day simple moving average of $79.81 and a two-hundred day simple moving average of $81.19. The company has a market cap of $27.76 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 4.97 and a beta of 0.27. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 52 week low of $77.70 and a 52 week high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the firm posted $1.01 earnings per share. Kellanova’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, September 2nd. Kellanova’s dividend payout ratio (DPR) is presently 60.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on K shares. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. initiated coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $83.38.

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.