Kapitalo Investimentos Ltda Takes Position in Kellanova $K

Key Points

• Kapitalo Investimentos Ltda purchased 130,119 shares of Kellanova, amounting to approximately $10.35 million, making it the 13th largest holding in their portfolio.
• Kellanova's quarterly earnings fell short of analysts' estimates, reporting $0.94 EPS compared to the expected $0.99.
• The company has increased its quarterly dividend to $0.58 per share, yielding 3.0%, up from the previous payout of $0.57.

Kapitalo Investimentos Ltda purchased a new position in shares of Kellanova (NYSE:K - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 130,119 shares of the company's stock, valued at approximately $10,348,000. Kellanova accounts for approximately 2.2% of Kapitalo Investimentos Ltda's investment portfolio, making the stock its 13th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in K. Grove Bank & Trust purchased a new stake in shares of Kellanova during the first quarter valued at $25,000. Financial Network Wealth Advisors LLC bought a new stake in Kellanova during the first quarter worth about $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova in the 1st quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new position in Kellanova during the first quarter worth about $49,000. Finally, Dagco Inc. bought a new stake in Kellanova during the first quarter valued at $49,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on K. Wall Street Zen downgraded shares of Kellanova from a "hold" rating to a "sell" rating in a report on Sunday. JPMorgan Chase & Co. assumed coverage on Kellanova in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price objective on the stock. Finally, Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.38.

Kellanova Price Performance

Shares of NYSE:K traded down $0.37 during midday trading on Monday, reaching $77.01. 2,397,195 shares of the company were exchanged, compared to its average volume of 2,944,833. The business's fifty day moving average is $79.62 and its two-hundred day moving average is $80.90. Kellanova has a one year low of $76.99 and a one year high of $83.22. The stock has a market cap of $26.77 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 4.82 and a beta of 0.27. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same period last year, the business posted $1.01 EPS. The company's revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.0%. This is a positive change from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, September 2nd. Kellanova's dividend payout ratio is presently 60.89%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 916,680 shares of company stock valued at $73,093,769. 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.