Paloma Partners Management Co Raises Position in Kellanova (NYSE:K)

Paloma Partners Management Co boosted its holdings in Kellanova (NYSE:K) by 322.3% in the fourth quarter, HoldingsChannel reports. The firm owned 27,923 shares of the company’s stock after purchasing an additional 21,311 shares during the period. Paloma Partners Management Co’s holdings in Kellanova were worth $2,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of K. Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Bard Financial Services Inc. acquired a new position in shares of Kellanova in the 3rd quarter worth approximately $272,000. Virtu Financial LLC bought a new stake in shares of Kellanova in the 3rd quarter valued at approximately $374,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kellanova during the 3rd quarter valued at approximately $210,000. Finally, Peapack Gladstone Financial Corp lifted its stake in Kellanova by 0.6% during the third quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock worth $6,587,000 after purchasing an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $82.43 on Tuesday. Kellanova has a twelve month low of $55.96 and a twelve 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. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.34. The firm has a 50-day moving average of $82.39 and a two-hundred day moving average of $81.61.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note on Monday, April 21st. They set a “buy” rating for the company. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova 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 transaction of $9,424,451.75. Following the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,801,886. 1.80% of the stock is owned by insiders.

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.