Olympiad Research LP Makes New Investment in Kellanova (NYSE:K)

Olympiad Research LP purchased a new position in Kellanova (NYSE:K) during the 3rd quarter, Holdings Channel reports. The firm purchased 24,860 shares of the company’s stock, valued at approximately $2,006,000. Kellanova accounts for about 1.3% of Olympiad Research LP’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB grew its position in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after acquiring an additional 10,676 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Kellanova by 498.7% during the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares in the last quarter. M&G Plc acquired a new stake in shares of Kellanova during the 1st quarter valued at about $9,346,000. Finally, Atria Investments Inc acquired a new stake in shares of Kellanova during the 1st quarter valued at about $1,003,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the transaction, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total value of $6,248,896.00. Following the transaction, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,150,064 shares of company stock worth $92,680,265 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of K stock opened at $80.97 on Thursday. Kellanova has a 1 year low of $50.81 and a 1 year high of $81.26. The firm’s 50 day moving average is $80.64 and its 200-day moving average is $68.87. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio is currently 78.35%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Barclays lifted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Sixteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.96.

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.