Kellanova (NYSE:K) Shares Acquired by CIBRA Capital Ltd

CIBRA Capital Ltd increased its stake in shares of Kellanova (NYSE:K - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 449,664 shares of the company's stock after acquiring an additional 79,288 shares during the period. Kellanova comprises 12.7% of CIBRA Capital Ltd's holdings, making the stock its 2nd largest position. CIBRA Capital Ltd owned approximately 0.13% of Kellanova worth $37,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Independent Advisor Alliance grew its position in shares of Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after acquiring an additional 1,019 shares during the period. Aviva PLC boosted its position in Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after purchasing an additional 13,531 shares in the last quarter. Retirement Guys Formula LLC acquired a new stake in Kellanova in the first quarter valued at approximately $934,000. Alpine Associates Management Inc. increased its position in shares of Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after buying an additional 296,150 shares in the last quarter. Finally, Decagon Asset Management LLP acquired a new position in shares of Kellanova during the 4th quarter worth approximately $10,125,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.1%

Shares of NYSE K traded up $0.10 during midday trading on Wednesday, hitting $79.96. 2,739,186 shares of the company's stock were exchanged, compared to its average volume of 2,984,900. The firm's fifty day simple moving average is $81.46 and its 200-day simple moving average is $81.77. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52. The company has a market cap of $27.74 billion, a PE ratio of 20.19, a P/E/G ratio of 4.16 and a beta of 0.28. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced 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). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Wall Street Analyst Weigh In

K has been the subject of a number of research reports. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus target price of $79.75.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $79.37, for a total value of $9,094,452.71. Following the sale, the insider directly owned 46,014,118 shares in the company, valued at $3,652,140,545.66. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,374,996 shares of company stock valued at $112,064,466. 1.80% of the stock is owned by company insiders.

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.