Machina Capital S.A.S. Takes $948,000 Position in Kellanova (NYSE:K)

Machina Capital S.A.S. acquired a new position in Kellanova (NYSE:K) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,706 shares of the company’s stock, valued at approximately $948,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&G PLC increased its stake in shares of Kellanova by 20.7% in the 3rd quarter. M&G PLC now owns 62,841 shares of the company’s stock valued at $5,090,000 after acquiring an additional 10,788 shares in the last quarter. Graypoint LLC grew its holdings in Kellanova by 15.8% in the third quarter. Graypoint LLC now owns 10,762 shares of the company’s stock worth $869,000 after purchasing an additional 1,470 shares during the period. Principal Financial Group Inc. increased its stake in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Kellanova during the third quarter valued at about $55,000. Finally, Assetmark Inc. boosted its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Up 0.0 %

NYSE K opened at $82.45 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $81.92 and a 200 day simple moving average of $81.12. Kellanova has a 12 month low of $52.46 and a 12 month high of $83.22. The firm has a market capitalization of $28.46 billion, a P/E ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com began coverage on Kellanova in a research report on Tuesday. They issued a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a research report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock worth $102,920,742 in the last 90 days. Insiders own 1.80% of the company’s stock.

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.