Samson Rock Capital LLP Takes Position in Kellanova $K

Samson Rock Capital LLP purchased a new stake in Kellanova (NYSE:K) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $795,000. Kellanova makes up approximately 3.2% of Samson Rock Capital LLP’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of K. Pinnacle Associates Ltd. grew its position in shares of Kellanova by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock worth $526,000 after purchasing an additional 123 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of Kellanova by 1.8% in the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after buying an additional 131 shares during the period. Cigna Investments Inc. New grew its position in Kellanova by 5.3% during the second quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock worth $222,000 after buying an additional 141 shares in the last quarter. Ethic Inc. increased its stake in Kellanova by 0.9% during the 2nd quarter. Ethic Inc. now owns 17,216 shares of the company’s stock worth $1,360,000 after acquiring an additional 150 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.0%

Shares of NYSE K opened at $83.32 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 company has a market cap of $28.99 billion, a price-to-earnings ratio of 21.87, a PEG 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. The stock has a 50-day moving average price of $81.58 and a two-hundred day moving average price of $80.91.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $0.91 EPS. As a group, analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity

In other 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 value of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.