Cognios Beta Neutral Large Cap Fund LP Buys 1,284 Shares of Kellanova (NYSE:K)

Cognios Beta Neutral Large Cap Fund LP lifted its stake in Kellanova (NYSE:K) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,590 shares of the company’s stock after acquiring an additional 1,284 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Kellanova were worth $536,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wynn Capital LLC bought a new position in shares of Kellanova in the 4th quarter worth $329,000. Alaska Permanent Fund Corp increased its position in Kellanova by 1.2% during the 4th quarter. Alaska Permanent Fund Corp now owns 192,460 shares of the company’s stock valued at $10,760,000 after buying an additional 2,310 shares in the last quarter. NewSquare Capital LLC increased its position in Kellanova by 7.0% during the 4th quarter. NewSquare Capital LLC now owns 117,794 shares of the company’s stock valued at $6,484,000 after buying an additional 7,670 shares in the last quarter. GAMMA Investing LLC acquired a new position in Kellanova during the 4th quarter valued at about $160,000. Finally, Linden Thomas Advisory Services LLC grew its stake in Kellanova by 2.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 24,129 shares of the company’s stock valued at $1,349,000 after purchasing an additional 647 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.61 during mid-day trading on Wednesday, reaching $58.75. 2,283,171 shares of the stock traded hands, compared to its average volume of 3,096,589. The business has a 50-day moving average of $55.76 and a 200 day moving average of $54.16. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The stock has a market capitalization of $20.08 billion, a PE ratio of 21.33, a PEG ratio of 2.22 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

Wall Street Analyst Weigh In

Several analysts have weighed in on K shares. StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson started coverage on Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Stifel Nicolaus boosted their price target on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Piper Sandler upped their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Barclays upped their target price on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.27.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the completion of the transaction, the insider now directly owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 in the last three months. 1.80% of the stock is owned by corporate insiders.

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.