Syquant Capital Sas Boosts Holdings in Kellanova (NYSE:K)

Syquant Capital Sas increased its stake in Kellanova (NYSE:K - Free Report) by 39.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 511,400 shares of the company's stock after buying an additional 145,900 shares during the period. Kellanova comprises about 29.9% of Syquant Capital Sas' investment portfolio, making the stock its largest position. Syquant Capital Sas owned approximately 0.15% of Kellanova worth $42,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter worth approximately $285,126,000. Franklin Resources Inc. raised its holdings in shares of Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after purchasing an additional 2,313,047 shares during the period. FIL Ltd lifted its position in shares of Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock valued at $141,356,000 after buying an additional 1,006,100 shares during the period. Finally, TIG Advisors LLC grew its position in shares of Kellanova by 76.5% during the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock valued at $152,084,000 after buying an additional 813,901 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on K shares. Royal Bank Of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $79.75.

Kellanova Stock Down 0.1%

K traded down $0.06 during midday trading on Tuesday, hitting $78.55. 4,543,343 shares of the company's stock traded hands, compared to its average volume of 2,909,854. 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 $27.25 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 4.12 and a beta of 0.30. The stock's fifty day simple moving average is $81.87 and its 200-day simple moving average is $81.85. Kellanova has a one year low of $55.96 and a one year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. Kellanova's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.90%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,374,996 shares of company stock valued at $112,416,235. 1.80% of the stock is owned by 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.