Qsemble Capital Management LP Buys Shares of 4,996 Kellanova (NYSE:K)

Qsemble Capital Management LP purchased a new stake in shares of Kellanova (NYSE:K) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,996 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds have also modified their holdings of K. Blue Trust Inc. grew its stake in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Kellanova during the 2nd quarter worth about $29,000. BNP Paribas acquired a new stake in shares of Kellanova during the 1st quarter valued at about $30,000. Motco grew its stake in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Kellanova in the second quarter worth approximately $39,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Performance

K opened at $80.68 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $69.97 and its two-hundred day moving average price is $62.10. The firm has a market capitalization of $27.62 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. Kellanova has a 12-month low of $47.63 and a 12-month high of $80.97.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities analysts forecast that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is presently 85.39%.

Analyst Ratings Changes

K has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of Kellanova in a research note on Monday, September 9th. They issued a “hold” rating for the company. Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target for the company. Finally, Barclays increased their price objective on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus target price of $74.32.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the sale, the insider now owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 892,583 shares of company stock valued at $60,355,010. 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.