Greenland Capital Management LP Grows Stake in Kellanova (NYSE:K)

Greenland Capital Management LP increased its holdings in shares of Kellanova (NYSE:K) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,963 shares of the company’s stock after purchasing an additional 6,600 shares during the quarter. Greenland Capital Management LP’s holdings in Kellanova were worth $2,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department purchased a new stake in Kellanova in the fourth quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the fourth quarter valued at $32,000. Flagship Wealth Advisors LLC purchased a new position in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

Kellanova stock opened at $81.76 on Tuesday. The company has a market cap of $28.22 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a one year low of $55.01 and a one year high of $83.22. The business has a fifty day moving average of $82.30 and a two-hundred day moving average of $81.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last announced its quarterly earnings data 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%. As a group, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Analysts Set New Price Targets

Several research firms have commented on K. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the sale, the insider now owns 48,420,361 shares of the company’s stock, valued at $3,955,459,290.09. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,260,413 shares of company stock valued at $103,558,970 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.