Caxton Associates LLP Acquires 447,881 Shares of Kellanova $K

Caxton Associates LLP raised its holdings in Kellanova (NYSE:K) by 173.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 705,442 shares of the company’s stock after acquiring an additional 447,881 shares during the quarter. Kellanova makes up about 1.4% of Caxton Associates LLP’s portfolio, making the stock its 9th largest holding. Caxton Associates LLP owned about 0.20% of Kellanova worth $56,104,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Townsquare Capital LLC increased its holdings in Kellanova by 27.7% in the first quarter. Townsquare Capital LLC now owns 7,244 shares of the company’s stock valued at $598,000 after purchasing an additional 1,571 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Kellanova by 17.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,433 shares of the company’s stock valued at $448,000 after buying an additional 793 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Kellanova by 8.8% in the 1st quarter. Public Sector Pension Investment Board now owns 35,532 shares of the company’s stock valued at $2,931,000 after buying an additional 2,868 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Kellanova by 18.7% in the first quarter. Russell Investments Group Ltd. now owns 253,361 shares of the company’s stock valued at $20,899,000 after buying an additional 39,829 shares during the period. Finally, National Pension Service lifted its stake in shares of Kellanova by 7.0% in the first quarter. National Pension Service now owns 489,427 shares of the company’s stock worth $40,373,000 after acquiring an additional 31,957 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $83.44 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 1.01. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.65. The company has a fifty day moving average of $83.19 and a 200-day moving average of $81.05. The firm has a market capitalization of $29.03 billion, a P/E ratio of 22.92, a P/E/G ratio of 11.61 and a beta of 0.23.

Kellanova (NYSE:K) last posted its quarterly 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. Kellanova had a net margin of 10.08% and a return on equity of 31.73%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.