Arrowstreet Capital Limited Partnership Boosts Stock Holdings in Kellanova $K

Arrowstreet Capital Limited Partnership raised its stake in Kellanova (NYSE:K) by 69.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 947,764 shares of the company’s stock after acquiring an additional 388,886 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.27% of Kellanova worth $75,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in K. Norges Bank bought a new stake in shares of Kellanova in the second quarter worth about $294,749,000. Pentwater Capital Management LP grew its holdings in Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after buying an additional 2,245,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Kellanova by 66.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after buying an additional 962,172 shares in the last quarter. Vanguard Group Inc. increased its stake in Kellanova by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 33,356,883 shares of the company’s stock worth $2,652,873,000 after acquiring an additional 661,535 shares during the last quarter. Finally, Syquant Capital Sas raised its holdings in shares of Kellanova by 123.6% during the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock worth $90,948,000 after acquiring an additional 632,168 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.0%

K stock opened at $83.16 on Friday. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.65. The firm’s 50-day moving average is $82.98 and its 200 day moving average is $81.01. The company has a market capitalization of $28.93 billion, a PE ratio of 22.84, a P/E/G ratio of 11.57 and a beta of 0.23. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.68 and a quick ratio of 0.44.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a net margin of 10.08% and a return on equity of 31.73%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Analyst Upgrades and Downgrades

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