Diametric Capital LP Increases Position in Kellanova (NYSE:K)

Diametric Capital LP raised its stake in shares of Kellanova (NYSE:K) by 27.5% during the 4th quarter, Holdings Channel reports. The fund owned 11,248 shares of the company’s stock after purchasing an additional 2,428 shares during the period. Diametric Capital LP’s holdings in Kellanova were worth $911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Kellanova in the third quarter valued at about $378,000. Townsquare Capital LLC purchased a new position in shares of Kellanova in the 3rd quarter worth approximately $414,000. Public Sector Pension Investment Board lifted its position in Kellanova by 26.6% during the third quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company’s stock valued at $884,000 after acquiring an additional 2,300 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Kellanova during the third quarter valued at approximately $7,864,000. Finally, Paloma Partners Management Co purchased a new position in Kellanova in the third quarter worth $534,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the subject of a number of recent analyst reports. StockNews.com started coverage on Kellanova in a research report on Friday. They issued a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Down 0.1 %

NYSE:K opened at $82.43 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company’s fifty day moving average price is $82.25 and its 200-day moving average price is $81.36. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The firm has a market capitalization of $28.46 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now directly owns 48,649,527 shares of the company’s stock, valued at $3,954,233,554.56. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 1,260,413 shares of company stock valued at $103,473,032. 1.80% of the stock is owned by company insiders.

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.