XTX Topco Ltd Buys New Holdings in Kellanova (NYSE:K)

Key Points

• XTX Topco Ltd has purchased 13,546 shares in Kellanova, valued at approximately $1,117,000, during the first quarter, indicating growing institutional interest in the company.
• Kellanova recently reported a quarterly EPS of $0.94, which missed analysts' estimates, but showed a slight revenue increase of 0.3% year-over-year, totaling $3.20 billion.
• The company has increased its quarterly dividend to $0.58 per share, reflecting a boost from its previous dividend and translating to an annualized yield of 2.9%.

XTX Topco Ltd bought a new position in Kellanova (NYSE:K - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,546 shares of the company's stock, valued at approximately $1,117,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of K. Grove Bank & Trust bought a new position in shares of Kellanova during the 1st quarter worth approximately $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova during the first quarter worth $27,000. Accredited Wealth Management LLC bought a new position in shares of Kellanova during the fourth quarter valued at $36,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at $42,000. Finally, EQ Wealth Advisors LLC bought a new stake in shares of Kellanova in the 1st quarter worth about $49,000. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Performance

Shares of Kellanova stock opened at $79.90 on Friday. The firm has a fifty day moving average of $80.24 and a two-hundred day moving average of $81.57. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.52 and a current ratio of 0.68. The stock has a market capitalization of $27.72 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 4.26 and a beta of 0.27. Kellanova has a 52 week low of $61.47 and a 52 week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company earned $1.01 earnings per share. The business's revenue was up .3% compared to the same quarter last year. As a group, equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio is currently 59.84%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $79.79, for a total value of $9,142,577.57. Following the completion of the transaction, the insider directly owned 45,555,786 shares in the company, valued at approximately $3,634,896,164.94. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,374,996 shares of company stock valued at $110,891,136. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Kellanova currently has an average rating of "Hold" and a consensus target price of $79.75.

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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