Eisler Capital Management Ltd. Makes New $3.68 Million Investment in Kellanova (NYSE:K)

Eisler Capital Management Ltd. acquired a new stake in Kellanova (NYSE:K) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 45,417 shares of the company’s stock, valued at approximately $3,682,000.

Several other large investors have also made changes to their positions in K. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter worth $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the 4th quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. raised its position in shares of 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 buying an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on K. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. 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. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.41.

Kellanova Price Performance

Shares of K opened at $82.57 on Friday. The company has a market cap of $28.50 billion, a P/E ratio of 21.33, a PEG ratio of 4.21 and a beta of 0.30. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average price is $82.39 and its 200 day moving average price is $81.69.

Kellanova (NYSE:K) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. On average, research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s payout ratio is presently 57.58%.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the transaction, the insider now owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,374,996 shares of company stock valued at $113,261,858. 1.80% of the stock is currently owned by corporate insiders.

About Kellanova

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.