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

Caxton Associates LLP grew its holdings in shares of Kellanova (NYSE:K) by 173.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,442 shares of the company’s stock after buying an additional 447,881 shares during the quarter. Kellanova accounts for about 1.4% of Caxton Associates LLP’s holdings, making the stock its 9th biggest position. Caxton Associates LLP’s holdings in Kellanova were worth $56,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. Norges Bank bought a new stake in Kellanova during the 2nd quarter worth approximately $294,749,000. Pentwater Capital Management LP boosted its position in shares of Kellanova by 39.0% during the first 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 during the last quarter. LMR Partners LLP grew its holdings in Kellanova by 1,866.3% during the second quarter. LMR Partners LLP now owns 961,906 shares of the company’s stock worth $76,500,000 after buying an additional 912,986 shares in the last quarter. Bank of America Corp DE raised its position in Kellanova by 21.6% in the 2nd quarter. Bank of America Corp DE now owns 4,055,514 shares of the company’s stock valued at $322,535,000 after buying an additional 720,218 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Kellanova by 31.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,854,716 shares of the company’s stock valued at $227,036,000 after acquiring an additional 679,692 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on K. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. began coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $83.50.

Kellanova Price Performance

K opened at $83.44 on Friday. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.65. The firm has a 50-day moving average of $83.19 and a 200 day moving average of $81.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.68. The firm has a market cap of $29.03 billion, a P/E ratio of 22.92, a PEG ratio of 11.61 and a beta of 0.23.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating 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 firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend 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%.

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.