Quantinno Capital Management LP Increases Holdings in Kellanova (NYSE:K)

Quantinno Capital Management LP lifted its position in Kellanova (NYSE:K) by 17.7% in the 4th quarter, HoldingsChannel reports. The firm owned 114,744 shares of the company’s stock after purchasing an additional 17,240 shares during the quarter. Quantinno Capital Management LP’s holdings in Kellanova were worth $9,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Mufg Securities Americas Inc. purchased a new position in shares of Kellanova in the fourth quarter worth about $321,000. Nissay Asset Management Corp Japan ADV raised its position in Kellanova by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 33,854 shares of the company’s stock valued at $2,748,000 after acquiring an additional 614 shares in the last quarter. NorthRock Partners LLC purchased a new position in Kellanova during the fourth quarter valued at approximately $858,000. Minot DeBlois Advisors LLC purchased a new position in Kellanova during the fourth quarter valued at approximately $42,000. Finally, Moore Capital Management LP raised its position in Kellanova by 23.5% during the fourth quarter. Moore Capital Management LP now owns 105,000 shares of the company’s stock valued at $8,502,000 after acquiring an additional 20,000 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.4%

Kellanova stock opened at $82.11 on Friday. The stock has a market capitalization of $28.49 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The business has a 50 day simple moving average of $82.37 and a 200-day simple moving average of $81.74. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. On average, analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.78%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Insider Activity

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 Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the completion of the sale, the insider now directly owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,260,413 shares of company stock worth $103,786,990 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

K has been the subject of several recent research reports. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.41.

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.