Lombard Odier Asset Management Europe Ltd Has $2.83 Million Holdings in Kellanova (NYSE:K)

Lombard Odier Asset Management Europe Ltd raised its position in Kellanova (NYSE:K) by 227.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,018 shares of the company’s stock after purchasing an additional 34,069 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Kellanova were worth $2,827,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Kellanova by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after buying an additional 1,130,582 shares in the last quarter. Boston Partners grew its holdings in Kellanova by 117.1% in the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after purchasing an additional 689,395 shares during the period. Armistice Capital LLC increased its stake in Kellanova by 13,825.3% in the fourth quarter. Armistice Capital LLC now owns 585,000 shares of the company’s stock valued at $32,707,000 after purchasing an additional 580,799 shares in the last quarter. Natixis raised its holdings in shares of Kellanova by 1,589.7% during the first quarter. Natixis now owns 508,499 shares of the company’s stock valued at $29,132,000 after purchasing an additional 478,405 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Kellanova by 95.9% in the 1st quarter. BNP Paribas Financial Markets now owns 969,096 shares of the company’s stock valued at $55,520,000 after buying an additional 474,530 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

K has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. StockNews.com began coverage on shares of Kellanova in a report on Tuesday, September 17th. They set a “hold” rating for the company. Finally, BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Monday, August 5th. Fourteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus target price of $74.32.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the transaction, the insider now owns 50,253,689 shares in the company, valued at $4,054,467,628.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the sale, the insider now owns 51,142,038 shares of the company’s stock, valued at approximately $2,871,114,013.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the transaction, the insider now directly owns 50,253,689 shares of the company’s stock, valued at approximately $4,054,467,628.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,043,949 shares of company stock worth $74,350,847. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Shares of NYSE:K opened at $80.62 on Tuesday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $80.97. The company’s 50-day moving average is $72.86 and its 200 day moving average is $63.25. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The company has a market capitalization of $27.56 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39.

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

Kellanova Increases Dividend

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

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.