Olympiad Research LP Takes Position in Kellanova $K

Olympiad Research LP purchased a new stake in shares of Kellanova (NYSE:K) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,318 shares of the company’s stock, valued at approximately $502,000. Kellanova accounts for about 0.8% of Olympiad Research LP’s holdings, making the stock its 16th largest holding.

Other hedge funds have also bought and sold shares of the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Kellanova in the 1st quarter worth about $25,000. Trust Co. of Toledo NA OH purchased a new stake in Kellanova in the 2nd quarter worth about $45,000. Dagco Inc. purchased a new stake in Kellanova in the 1st quarter worth about $49,000. Cypress Capital Management LLC WY bought a new stake in Kellanova in the first quarter worth about $54,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Kellanova by 32.7% during the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after buying an additional 177 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Shares of Kellanova stock opened at $83.27 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The stock’s fifty day moving average price is $81.51 and its 200-day moving average price is $80.92. The firm has a market cap of $28.97 billion, a P/E ratio of 21.85, a P/E/G ratio of 5.16 and a beta of 0.23. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.45.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on K. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.50.

Kellanova Company 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.