Jump Financial LLC Raises Stock Position in Kellanova $K

Key Points

• Jump Financial LLC increased its holdings in Kellanova by 147.1% in the first quarter, owning 10,168 shares valued at approximately $839,000.
• Kellanova's quarterly earnings report showed a miss on EPS estimates, reporting $0.94 compared to the expected $0.99, while revenue slightly exceeded analyst predictions.
• The company recently announced a dividend increase to $0.58 per share, which will be paid on September 15th, reflecting a 2.9% annual yield.

Jump Financial LLC boosted its holdings in Kellanova (NYSE:K - Free Report) by 147.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,168 shares of the company's stock after purchasing an additional 6,053 shares during the period. Jump Financial LLC's holdings in Kellanova were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in K. Vanguard Group Inc. increased its position in Kellanova by 0.8% during the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock worth $2,697,039,000 after buying an additional 259,604 shares during the last quarter. Keybank National Association OH increased its stake in Kellanova by 0.7% during the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after acquiring an additional 128,439 shares during the period. Northern Trust Corp lifted its position in Kellanova by 3.0% during the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company's stock worth $331,243,000 after purchasing an additional 117,650 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Kellanova by 3.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,661,225 shares of the company's stock valued at $215,479,000 after purchasing an additional 86,293 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Kellanova by 66.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company's stock worth $199,049,000 after buying an additional 962,172 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 1,260,429 shares of company stock valued at $100,650,980 in the last three months. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several equities 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 research report on Thursday, May 29th. JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price objective for the company. Finally, Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $83.38.

Kellanova Trading Up 0.7%

K traded up $0.54 on Thursday, hitting $79.58. The company had a trading volume of 3,502,530 shares, compared to its average volume of 2,934,204. The company has a market cap of $27.67 billion, a PE ratio of 20.89, a PEG ratio of 4.95 and a beta of 0.27. 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 business's fifty day simple moving average is $79.78 and its 200 day simple moving average is $81.25. Kellanova has a 12-month low of $77.70 and a 12-month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion for 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 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 business earned $1.01 earnings per share. Equities research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

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

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.