Machina Capital S.A.S. Purchases New Holdings in Kellanova (NYSE:K)

Machina Capital S.A.S. acquired a new position in shares of Kellanova (NYSE:K - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,706 shares of the company's stock, valued at approximately $948,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westchester Capital Management LLC bought a new stake in Kellanova in the 3rd quarter valued at approximately $107,795,000. Barclays PLC lifted its position in shares of Kellanova by 134.7% in 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. State Street Corp boosted its holdings in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company's stock worth $1,188,489,000 after purchasing an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP grew its position in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company's stock valued at $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas acquired a new stake in Kellanova in the 4th quarter valued at $29,595,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Kellanova stock traded down $0.01 during mid-day trading on Tuesday, hitting $82.45. 578,143 shares of the company's stock traded hands, compared to its average volume of 2,393,777. 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 firm has a 50 day simple moving average of $81.95 and a two-hundred day simple moving average of $81.15. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $83.22. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31.

Remove Ads

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, March 3rd. Kellanova's payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on K shares. Royal Bank of Canada upgraded shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research report on Tuesday, March 4th. They set a "hold" rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova presently has an average rating of "Hold" and a consensus price target of $77.96.

Insider Transactions 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, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the sale, the insider now owns 48,878,693 shares of the company's stock, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 1,145,830 shares of company stock worth $93,673,894. 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.