Athos Capital Ltd Makes New Investment in Kellanova (NYSE:K)

Athos Capital Ltd purchased a new position in shares of Kellanova (NYSE:K - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 90,500 shares of the company's stock, valued at approximately $7,304,000. Kellanova comprises about 2.4% of Athos Capital Ltd's investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. Atria Investments Inc acquired a new stake in Kellanova in the 1st quarter valued at about $1,003,000. Cetera Investment Advisers lifted its position in shares of Kellanova by 393.2% in the first quarter. Cetera Investment Advisers now owns 117,392 shares of the company's stock valued at $6,725,000 after buying an additional 93,588 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Kellanova by 61.5% during the 1st quarter. Cetera Advisors LLC now owns 24,530 shares of the company's stock worth $1,405,000 after acquiring an additional 9,338 shares during the period. GAMMA Investing LLC increased its holdings in shares of Kellanova by 60.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,698 shares of the company's stock worth $329,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Kellanova by 67.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,067 shares of the company's stock valued at $119,000 after acquiring an additional 836 shares during the period. Institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

Shares of K traded down $0.59 during trading hours on Monday, hitting $80.70. 2,133,352 shares of the company were exchanged, compared to its average volume of 2,989,374. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.61 and a beta of 0.39. The firm's fifty day moving average is $80.82 and its 200 day moving average is $71.39.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.03 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's dividend payout ratio is 78.35%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $92,516,606 in the last quarter. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on K shares. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a "neutral" rating and a $75.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their target price on Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Kellanova from $76.00 to $83.50 and gave the stock a "hold" rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $76.35.

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.