Decagon Asset Management LLP Makes New $10.13 Million Investment in Kellanova (NYSE:K)

Decagon Asset Management LLP purchased a new position in shares of Kellanova (NYSE:K) in the fourth quarter, Holdings Channel.com reports. The firm purchased 125,042 shares of the company’s stock, valued at approximately $10,125,000. Kellanova makes up about 3.7% of Decagon Asset Management LLP’s investment portfolio, making the stock its 8th largest position.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after purchasing an additional 196,564 shares in the last quarter. Barclays PLC increased its position in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after purchasing an additional 50,303 shares in the last quarter. Finally, Ilex Capital Partners UK LLP increased its position in shares of Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on K. StockNews.com began coverage on Kellanova in a research report on Wednesday, March 12th. They set a “hold” rating on the stock. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

NYSE K opened at $82.36 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $82.09 and its two-hundred day moving average is $81.22. Kellanova has a 12-month low of $54.47 and a 12-month high of $83.22. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the sale, the insider now owns 47,847,446 shares of the company’s stock, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,099,492. Company insiders own 1.80% of the company’s stock.

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.