Syquant Capital Sas Purchases 145,900 Shares of Kellanova (NYSE:K)

Syquant Capital Sas grew its position in shares of Kellanova (NYSE:K) by 39.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 511,400 shares of the company’s stock after buying an additional 145,900 shares during the quarter. Kellanova comprises about 29.9% of Syquant Capital Sas’ investment portfolio, making the stock its largest position. Syquant Capital Sas’ holdings in Kellanova were worth $42,185,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in K. Grove Bank & Trust acquired a new position in shares of Kellanova in the 1st quarter valued at about $25,000. BankPlus Trust Department bought a new position in Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova during the fourth 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 worth $36,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $78.58 on Tuesday. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The firm has a market capitalization of $27.26 billion, a PE ratio of 19.84, a P/E/G ratio of 4.12 and a beta of 0.30. The firm has a 50-day moving average price of $81.87 and a 200 day moving average price of $81.85. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

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). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned $1.01 EPS. Kellanova’s revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.90%. Kellanova’s dividend payout ratio (DPR) is 57.58%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on K. Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $79.75.

Insider Activity at Kellanova

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 Monday, June 23rd. The shares were sold at an average price of $78.42, for a total value of $8,985,598.86. Following the sale, the insider now directly owns 46,128,701 shares in the company, valued at $3,617,412,732.42. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,374,996 shares of company stock valued at $112,416,235 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.