Syon Capital LLC Buys New Shares in Kellanova (NYSE:K)

Syon Capital LLC purchased a new position in shares of Kellanova (NYSE:K) in the 4th quarter, Holdings Channel.com reports. The fund purchased 5,856 shares of the company’s stock, valued at approximately $327,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in K. Invesco Ltd. increased its stake in Kellanova by 29.4% during the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock worth $296,971,000 after acquiring an additional 1,132,485 shares during the last quarter. Van ECK Associates Corp increased its stake in Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock worth $291,061,000 after acquiring an additional 1,051,922 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Kellanova by 738.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 420,781 shares of the company’s stock worth $23,522,000 after buying an additional 370,607 shares during the period. Deutsche Bank AG boosted its position in shares of Kellanova by 27.4% in the third quarter. Deutsche Bank AG now owns 1,607,621 shares of the company’s stock worth $95,670,000 after buying an additional 345,830 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Kellanova by 8.7% in the third quarter. Northern Trust Corp now owns 4,116,944 shares of the company’s stock worth $244,999,000 after buying an additional 328,658 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 1.2 %

NYSE:K opened at $57.73 on Friday. The stock’s 50 day moving average price is $55.96 and its 200 day moving average price is $54.29. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company has a market capitalization of $19.73 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, research analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.88%. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total value of $4,115,620.00. Following the completion of the transaction, the insider now directly owns 52,309,038 shares of the company’s stock, valued at $2,767,148,110.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 over the last ninety days. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

K has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Stifel Nicolaus upped their target price on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their target price on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Piper Sandler upped their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.27.

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.