Eisler Capital Management Ltd. Boosts Holdings in Kellanova $K

Key Points

• Eisler Capital Management Ltd. increased its stake in Kellanova by 81.8%, acquiring an additional 37,137 shares, bringing its total holdings to 82,554 shares valued at approximately $6.81 million.
• Kellanova plans to pay a quarterly dividend of $0.58 per share, up from the previous $0.57, with a yield of 2.9% and an annualized total of $2.32.
• According to recent analyst reports, Kellanova has a consensus rating of "Hold" with a price target of $83.38, indicating mixed sentiments among analysts regarding the stock's performance.

Eisler Capital Management Ltd. boosted its position in shares of Kellanova (NYSE:K - Free Report) by 81.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,554 shares of the company's stock after purchasing an additional 37,137 shares during the period. Eisler Capital Management Ltd.'s holdings in Kellanova were worth $6,808,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in K. Financial Counselors Inc. purchased a new stake in Kellanova in the 1st quarter valued at about $522,000. IFM Investors Pty Ltd boosted its position in Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company's stock valued at $4,620,000 after buying an additional 5,957 shares during the period. Retirement Guys Formula LLC purchased a new stake in Kellanova in the 1st quarter valued at about $934,000. Syquant Capital Sas boosted its position in Kellanova by 39.9% in the 1st quarter. Syquant Capital Sas now owns 511,400 shares of the company's stock valued at $42,185,000 after buying an additional 145,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company's stock valued at $2,771,000 after buying an additional 3,747 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

K has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price objective for the company. Wall Street Zen cut shares of Kellanova from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Citigroup raised 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. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and an average target price of $83.38.

Kellanova Stock Up 0.0%

NYSE:K traded up $0.01 during midday trading on Friday, reaching $79.48. 3,564,768 shares of the stock traded hands, compared to its average volume of 2,009,401. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a 12-month low of $77.70 and a 12-month high of $83.22. The stock has a market capitalization of $27.63 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 4.95 and a beta of 0.27. The business has a 50-day moving average of $79.73 and a two-hundred day moving average of $81.31.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.58 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Kellanova's previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. Kellanova's dividend payout ratio (DPR) is currently 59.84%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction on 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 sale, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,260,429 shares of company stock valued at $100,650,980 in the last quarter. 1.80% of the stock is owned by corporate insiders.

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.