Trexquant Investment LP Purchases Shares of 88,005 Kellanova (NYSE:K)

Trexquant Investment LP purchased a new stake in shares of Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 88,005 shares of the company’s stock, valued at approximately $4,920,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of K. Baker Avenue Asset Management LP raised its holdings in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the last quarter. Motco raised its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the last quarter. Northwest Financial Advisors purchased a new stake in shares of Kellanova in the fourth quarter valued at about $42,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after purchasing an additional 928 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on K shares. TD Cowen raised their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Barclays raised their price objective on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Stifel Nicolaus raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. DA Davidson lifted their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Citigroup initiated coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.85.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $55.78, for a total transaction of $4,339,684.00. Following the sale, the insider now owns 52,464,638 shares of the company’s stock, valued at $2,926,477,507.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $55.78, for a total value of $4,339,684.00. Following the sale, the insider now directly owns 52,464,638 shares of the company’s stock, valued at approximately $2,926,477,507.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 943,400 shares of company stock worth $54,183,354. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 1.0 %

NYSE K opened at $61.62 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market capitalization of $21.07 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.21 and a beta of 0.39. Kellanova has a one year low of $47.63 and a one year high of $68.93. The stock has a 50 day moving average price of $58.13 and a 200-day moving average price of $55.64.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. As a group, equities analysts predict that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Kellanova’s dividend payout ratio is currently 83.90%.

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.