Olympiad Research LP Invests $2.01 Million in Kellanova (NYSE:K)

Olympiad Research LP bought a new position in shares of Kellanova (NYSE:K - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,860 shares of the company's stock, valued at approximately $2,006,000. Kellanova accounts for 1.3% of Olympiad Research LP's portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. acquired a new position in shares of Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after purchasing an additional 137 shares during the period. Institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

K has been the subject of a number of analyst reports. DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and raised their target price for the company from $80.00 to $83.50 in a research report on Monday, August 26th. StockNews.com began coverage on Kellanova in a research report on Monday. They issued a "hold" rating on the stock. Argus cut Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Evercore ISI upgraded Kellanova to a "hold" rating in a research note on Friday, August 2nd. Finally, Bank of America upgraded Kellanova from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Sixteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $74.96.

Kellanova Stock Performance

NYSE:K traded down $0.28 during mid-day trading on Thursday, hitting $80.66. 2,590,288 shares of the stock were exchanged, compared to its average volume of 3,072,431. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm's 50-day simple moving average is $80.64 and its 200 day simple moving average is $68.87. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.26. The stock has a market capitalization of $27.80 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

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

Kellanova Announces Dividend

The business also recently declared 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 is Monday, December 2nd. Kellanova's dividend payout ratio is currently 78.35%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the sale, 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 other Kellanova 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 completion of the transaction, the insider now owns 50,368,272 shares of the company's stock, valued at approximately $4,062,201,136.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the completion of the transaction, the insider now directly owns 50,675,238 shares of the company's stock, valued at $4,070,235,116.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,150,064 shares of company stock valued at $92,680,265 in the last three months. Corporate insiders own 1.80% of the company's stock.

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.