Aequim Alternative Investments LP Has $5.13 Million Stake in Kellanova $K

Aequim Alternative Investments LP lifted its position in shares of Kellanova (NYSE:K) by 22.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,546 shares of the company’s stock after purchasing an additional 12,000 shares during the period. Aequim Alternative Investments LP’s holdings in Kellanova were worth $5,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Kellanova by 0.8% during the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock worth $2,697,039,000 after purchasing an additional 259,604 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Kellanova by 0.7% during the first quarter. Keybank National Association OH now owns 19,718,498 shares of the company’s stock worth $1,626,579,000 after purchasing an additional 128,439 shares during the last quarter. Pentwater Capital Management LP grew its holdings in shares of Kellanova by 39.0% during the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after purchasing an additional 2,245,000 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Kellanova by 3.0% during the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock worth $331,243,000 after purchasing an additional 117,650 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Kellanova by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock worth $243,617,000 after purchasing an additional 292,063 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Price Performance

Shares of K opened at $83.01 on Monday. Kellanova has a 12-month low of $76.48 and a 12-month high of $83.22. The business’s fifty day moving average is $80.53 and its 200 day moving average is $80.83. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The stock has a market cap of $28.86 billion, a P/E ratio of 21.79, a P/E/G ratio of 5.16 and a beta of 0.24.

Kellanova (NYSE:K) last issued its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. Kellanova’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s dividend payout ratio (DPR) is 60.89%.

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 on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 343,765 shares of company stock worth $27,455,360. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on K. JPMorgan Chase & Co. began coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $83.38.

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.