DLD Asset Management LP Acquires New Position in Kellanova $K

DLD Asset Management LP purchased a new position in shares of Kellanova (NYSE:K) during the second quarter, Holdings Channel.com reports. The fund purchased 18,395 shares of the company’s stock, valued at approximately $1,463,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Kellanova by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 33,356,883 shares of the company’s stock valued at $2,652,873,000 after acquiring an additional 661,535 shares in the last quarter. Pentwater Capital Management LP grew its position in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after buying an additional 2,245,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kellanova by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,289,089 shares of the company’s stock worth $577,362,000 after acquiring an additional 163,126 shares during the last quarter. Northern Trust Corp increased its stake in Kellanova by 3.0% in the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock worth $331,243,000 after purchasing an additional 117,650 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Kellanova by 5.4% during the second quarter. Franklin Resources Inc. now owns 3,222,944 shares of the company’s stock valued at $256,321,000 after acquiring an additional 164,505 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kellanova Trading Up 0.2%

Shares of K stock opened at $83.64 on Thursday. The stock has a market cap of $29.10 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 5.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.65. The firm has a fifty day moving average of $82.25 and a 200-day moving average of $80.96.

Kellanova (NYSE:K) last released its quarterly earnings data 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. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

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 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 (DPR) is currently 63.74%.

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.