90,500 Shares in Kellanova (NYSE:K) Purchased by Athos Capital Ltd

Athos Capital Ltd acquired a new stake in shares of Kellanova (NYSE:K) during the third quarter, Holdings Channel reports. The firm acquired 90,500 shares of the company’s stock, valued at approximately $7,304,000. Kellanova accounts for approximately 2.4% of Athos Capital Ltd’s holdings, making the stock its 5th largest position.

Several other large investors also recently modified their holdings of the stock. Investors Research Corp raised its stake in shares of Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after acquiring an additional 125 shares during the last quarter. Assetmark Inc. lifted its position in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares in the last quarter. MCF Advisors LLC lifted its holdings in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. S.A. Mason LLC lifted its stake in shares of Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after acquiring an additional 140 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,516,606 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on K. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Barclays upped their price objective on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Piper Sandler boosted their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

Shares of NYSE K opened at $81.29 on Monday. The business has a 50-day moving average of $80.82 and a 200-day moving average of $71.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market capitalization of $28.02 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. As a group, sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

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.