Kellanova $K Shares Bought by Greenland Capital Management LP

Greenland Capital Management LP boosted its holdings in Kellanova (NYSE:K) by 244.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,071 shares of the company’s stock after acquiring an additional 121,432 shares during the quarter. Kellanova accounts for about 1.4% of Greenland Capital Management LP’s investment portfolio, making the stock its 10th biggest position. Greenland Capital Management LP’s holdings in Kellanova were worth $13,605,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Syquant Capital Sas grew its stake in Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock worth $90,948,000 after buying an additional 632,168 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Kellanova by 6.8% during the second quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock worth $6,860,000 after purchasing an additional 5,524 shares during the last quarter. Citigroup Inc. increased its stake in shares of Kellanova by 101.6% in the first quarter. Citigroup Inc. now owns 457,138 shares of the company’s stock valued at $37,709,000 after buying an additional 230,397 shares in the last quarter. Callan Family Office LLC bought a new position in shares of Kellanova in the second quarter valued at about $364,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Kellanova by 14.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 496,348 shares of the company’s stock worth $40,944,000 after buying an additional 62,166 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

Kellanova stock opened at $83.45 on Wednesday. The firm has a market capitalization of $29.04 billion, a P/E ratio of 21.90, a PEG ratio of 5.16 and a beta of 0.23. The business has a 50-day moving average of $81.74 and a 200-day moving average of $80.91. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.47.

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

Kellanova Dividend Announcement

The firm 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. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s payout ratio is currently 63.74%.

Analysts Set New Price Targets

Several research firms have weighed in on K. 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 price objective for the company. Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.50.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s 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 sale, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company 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.