Kellanova $K Stake Increased by Mint Tower Capital Management B.V.

Mint Tower Capital Management B.V. increased its holdings in shares of Kellanova (NYSE:K) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Mint Tower Capital Management B.V.’s holdings in Kellanova were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Syquant Capital Sas boosted its holdings in shares of Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock worth $90,948,000 after purchasing an additional 632,168 shares during the period. Public Employees Retirement System of Ohio lifted its position in Kellanova by 6.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock worth $6,860,000 after buying an additional 5,524 shares in the last quarter. Citigroup Inc. lifted its position in Kellanova by 101.6% in the 1st quarter. Citigroup Inc. now owns 457,138 shares of the company’s stock worth $37,709,000 after buying an additional 230,397 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of Kellanova during the 2nd quarter valued at $364,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Kellanova by 14.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 496,348 shares of the company’s stock valued at $40,944,000 after acquiring an additional 62,166 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

NYSE K opened at $83.32 on Friday. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.45. The company has a fifty day simple moving average of $81.58 and a 200 day simple moving average of $80.91. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The company has a market cap of $28.99 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.16 and a beta of 0.23.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s payout ratio is currently 63.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. started coverage on Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Finally, Wall Street Zen raised Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Kellanova has an average rating of “Hold” and an average target price of $83.50.

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.