Kellanova (NYSE:K) Shares Acquired by Twin Securities Inc.

Twin Securities Inc. increased its position in Kellanova (NYSE:K) by 1,037.7% in the fourth quarter, Holdings Channel reports. The firm owned 278,734 shares of the company’s stock after purchasing an additional 254,234 shares during the quarter. Kellanova accounts for 13.2% of Twin Securities Inc.’s holdings, making the stock its 2nd biggest holding. Twin Securities Inc.’s holdings in Kellanova were worth $22,569,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of K. Stonebridge Financial Group LLC bought a new position in Kellanova in the fourth quarter worth about $27,000. BankPlus Trust Department bought a new position in Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Price Performance

Shares of NYSE:K opened at $82.28 on Friday. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 4.21 and a beta of 0.30. The stock’s 50 day moving average price is $82.37 and its 200 day moving average price is $81.75. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm earned $1.01 EPS. Kellanova’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s payout ratio is 57.58%.

Analysts Set New Price Targets

K has been the topic of a number of recent analyst reports. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.41.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,786,990 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Kellanova 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.