Bayforest Capital Ltd Buys Shares of 2,292 Kellanova (NYSE:K)

Bayforest Capital Ltd purchased a new position in Kellanova (NYSE:K) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,292 shares of the company’s stock, valued at approximately $189,000.

A number of other hedge funds have also modified their holdings of K. Financial Counselors Inc. acquired a new position in Kellanova during the first quarter worth $522,000. Aviva PLC boosted its stake in shares of Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company’s stock worth $43,943,000 after acquiring an additional 13,531 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Kellanova by 11.6% during the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after acquiring an additional 5,957 shares during the last quarter. Retirement Guys Formula LLC acquired a new position in shares of Kellanova during the 1st quarter valued at about $934,000. Finally, Syquant Capital Sas raised its stake in shares of Kellanova by 39.9% in the 1st quarter. Syquant Capital Sas now owns 511,400 shares of the company’s stock valued at $42,185,000 after acquiring an additional 145,900 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 target price for the company in a research report on Thursday, May 29th. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.75.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $79.79, for a total transaction of $9,142,577.57. Following the sale, the insider directly owned 45,555,786 shares in the company, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 1,374,996 shares of company stock valued at $110,891,136. 1.80% of the stock is currently owned by company insiders.

Kellanova Trading Up 0.1%

Shares of Kellanova stock opened at $79.90 on Friday. The company has a market cap of $27.72 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 4.26 and a beta of 0.27. Kellanova has a 1 year low of $61.47 and a 1 year high of $83.22. The company’s fifty day simple moving average is $80.24 and its 200-day simple moving average is $81.57. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last posted its quarterly earnings results 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). The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. As a group, sell-side analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio (DPR) is currently 59.84%.

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.