Aequim Alternative Investments LP Increases Holdings in Kellanova $K

Aequim Alternative Investments LP grew its holdings in shares of Kellanova (NYSE:K) by 22.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 64,546 shares of the company’s stock after acquiring an additional 12,000 shares during the quarter. Aequim Alternative Investments LP’s holdings in Kellanova were worth $5,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Financial Counselors Inc. purchased a new stake in shares of Kellanova during the 1st quarter valued at $522,000. IFM Investors Pty Ltd increased its position 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 purchasing an additional 5,957 shares during the last quarter. Syquant Capital Sas increased its position in shares of Kellanova by 123.6% during the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after purchasing an additional 632,168 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock worth $2,771,000 after acquiring an additional 3,747 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Kellanova by 6.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock worth $6,860,000 after acquiring an additional 5,524 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price objective for the company. Finally, Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.38.

Kellanova Stock Down 0.0%

K stock opened at $83.01 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $28.86 billion, a PE ratio of 21.79, a PEG ratio of 5.16 and a beta of 0.24. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.22. The stock has a 50-day simple moving average of $80.53 and a two-hundred day simple moving average of $80.83.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s payout ratio is presently 60.89%.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated 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 completion of the transaction, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 343,765 shares of company stock worth $27,455,360. 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.