Kellanova (NYSE:K) Shares Acquired by Fort Baker Capital Management LP

Fort Baker Capital Management LP raised its holdings in Kellanova (NYSE:K) by 178.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 535,479 shares of the company’s stock after buying an additional 343,315 shares during the quarter. Kellanova accounts for 7.0% of Fort Baker Capital Management LP’s investment portfolio, making the stock its largest holding. Fort Baker Capital Management LP owned about 0.16% of Kellanova worth $43,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after acquiring an additional 130 shares in the last quarter. Quent Capital LLC raised its position in shares of Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after purchasing an additional 140 shares during the period. OneAscent Financial Services LLC lifted its holdings in shares of Kellanova by 4.7% in the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after purchasing an additional 149 shares in the last quarter. SPC Financial Inc. grew its position in Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after purchasing an additional 160 shares during the period. Finally, CENTRAL TRUST Co increased its stake in Kellanova by 0.7% during the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock valued at $1,820,000 after purchasing an additional 162 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,374,996 shares of company stock valued at $113,261,858. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

Shares of K opened at $82.50 on Friday. The stock has a 50 day moving average of $82.39 and a 200 day moving average of $81.70. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.30. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. As a group, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s payout ratio is currently 57.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.41.

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.