Eisler Capital Management Ltd. Purchases New Position in Kellanova (NYSE:K)

Eisler Capital Management Ltd. acquired a new position in Kellanova (NYSE:K - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,417 shares of the company's stock, valued at approximately $3,682,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its stake in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock valued at $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Kellanova by 52.9% in the fourth quarter. Nordea Investment Management AB now owns 33,434 shares of the company's stock valued at $2,704,000 after purchasing an additional 11,561 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Kellanova by 2.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,227 shares of the company's stock worth $1,229,000 after purchasing an additional 308 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its stake in Kellanova by 114.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 750 shares of the company's stock valued at $61,000 after purchasing an additional 400 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova has a consensus rating of "Hold" and a consensus target price of $79.41.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company'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 value of $9,476,014.10. Following the sale, the insider now owns 47,847,446 shares in the company, valued at $3,956,983,784.20. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,839,698 in the last 90 days. Insiders own 1.80% of the company's stock.

Kellanova Stock Down 0.4%

Shares of NYSE:K traded down $0.29 during trading hours on Wednesday, hitting $81.82. The company's stock had a trading volume of 3,031,125 shares, compared to its average volume of 2,690,677. The firm's fifty day moving average price is $82.39 and its 200 day moving average price is $81.72. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. Kellanova's dividend payout ratio is currently 57.58%.

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.