Diametric Capital LP Purchases 2,428 Shares of Kellanova (NYSE:K)

Diametric Capital LP raised its holdings in shares of Kellanova (NYSE:K) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,248 shares of the company’s stock after acquiring an additional 2,428 shares during the period. Diametric Capital LP’s holdings in Kellanova were worth $911,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in Kellanova in the 4th quarter worth $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova during the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. raised its position in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the topic of several research analyst reports. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research report on Friday. They issued a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the sale, the insider now directly owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,260,413 shares of company stock valued at $103,473,032 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.1 %

Kellanova stock opened at $82.43 on Tuesday. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The firm’s 50 day moving average price is $82.25 and its 200-day moving average price is $81.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market cap of $28.46 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

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.