Kellanova $K Shares Acquired by Syquant Capital Sas

Key Points

• Syquant Capital Sas has significantly increased its stake in Kellanova by 123.6%, owning over 1.14 million shares, making Kellanova its second largest holding.
• The Kellogg W. K. Foundation Trust, a major shareholder, sold 114,599 shares of Kellanova, reducing their ownership by 0.25%.
• Kellanova recently declared a quarterly dividend of $0.58, which is an increase from the previous dividend of $0.57, representing an annualized yield of 3.0%.

Syquant Capital Sas raised its stake in shares of Kellanova (NYSE:K - Free Report) by 123.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,143,568 shares of the company's stock after acquiring an additional 632,168 shares during the period. Kellanova makes up 30.2% of Syquant Capital Sas' holdings, making the stock its 2nd biggest holding. Syquant Capital Sas owned approximately 0.33% of Kellanova worth $90,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in K. Pentwater Capital Management LP grew its holdings in shares of Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock valued at $659,920,000 after purchasing an additional 2,245,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Kellanova by 66.3% in the first quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company's stock valued at $199,049,000 after purchasing an additional 962,172 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Kellanova by 8,377.9% in the first quarter. GAMMA Investing LLC now owns 568,274 shares of the company's stock valued at $46,877,000 after purchasing an additional 561,571 shares in the last quarter. Alpine Associates Management Inc. grew its holdings in shares of Kellanova by 89.0% in the first quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company's stock valued at $95,536,000 after purchasing an additional 545,300 shares in the last quarter. Finally, CIBRA Capital Ltd acquired a new position in shares of Kellanova in the fourth quarter valued at approximately $29,989,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business's 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 completion of the sale, the insider directly owned 45,097,438 shares of the company's stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 916,680 shares of company stock valued at $73,093,769 over the last three months. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on K. Wall Street Zen cut shares of Kellanova from a "hold" rating to a "sell" rating in a report on Sunday. JPMorgan Chase & Co. began coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 price objective for the company. Finally, Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research note on Thursday, May 29th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $83.38.

Kellanova Stock Down 0.5%

Shares of Kellanova stock opened at $77.01 on Tuesday. Kellanova has a 52-week low of $76.99 and a 52-week high of $83.22. The company has a 50 day moving average of $79.62 and a 200 day moving average of $80.90. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $26.77 billion, a P/E ratio of 20.21, a P/E/G ratio of 4.82 and a beta of 0.27.

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 firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm's revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.0%. This is a boost 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%.

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.

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