CIBRA Capital Ltd Purchases Shares of 370,376 Kellanova (NYSE:K)

CIBRA Capital Ltd purchased a new stake in shares of Kellanova (NYSE:K - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 370,376 shares of the company's stock, valued at approximately $29,989,000. Kellanova makes up about 20.4% of CIBRA Capital Ltd's investment portfolio, making the stock its biggest position. CIBRA Capital Ltd owned about 0.11% of Kellanova as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of K. Independent Advisor Alliance boosted its position in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after purchasing an additional 1,019 shares during the period. Aviva PLC lifted its stake in shares of Kellanova by 2.6% in the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after buying an additional 13,531 shares during the last quarter. Barclays PLC lifted its stake 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 buying an additional 1,033,383 shares during the last quarter. Alpine Associates Management Inc. boosted its holdings in shares of Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after buying an additional 296,150 shares during the period. Finally, Decagon Asset Management LLP acquired a new position in Kellanova in the 4th quarter valued at $10,125,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Performance

Kellanova stock traded up $0.10 during trading hours on Friday, hitting $82.60. The stock had a trading volume of 5,559,902 shares, compared to its average volume of 2,765,622. The company has a 50-day moving average of $82.38 and a two-hundred day moving average of $81.87. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a market cap of $28.66 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio is 57.58%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the sale, the insider now owns 47,618,280 shares of the company's stock, valued at $3,917,079,712.80. The trade was a 0.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 1,374,996 shares of company stock valued at $113,174,775. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report on Thursday. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $79.75.

Kellanova Company 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.