Kellanova (NYSE:K) Shares Bought by Moore Capital Management LP

Moore Capital Management LP boosted its stake in shares of Kellanova (NYSE:K) by 23.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Moore Capital Management LP’s holdings in Kellanova were worth $8,502,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Independent Advisor Alliance increased its holdings in shares of Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the period. Aviva PLC raised its position in shares of Kellanova by 2.6% during the 4th quarter. Aviva PLC now owns 542,709 shares of the company’s stock worth $43,943,000 after buying an additional 13,531 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Kellanova in the 4th quarter worth approximately $384,000. FNY Investment Advisers LLC bought a new position in shares of Kellanova in the fourth quarter valued at approximately $2,490,000. Finally, Barclays PLC raised its holdings in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Down 0.0%

Kellanova stock opened at $82.50 on Monday. The firm’s 50 day moving average price is $82.39 and its two-hundred day moving average price is $81.71. The firm has a market cap of $28.62 billion, a PE ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.30. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. 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 issued its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. On average, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s payout ratio is 57.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $79.41.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the sale, the insider now owns 47,847,446 shares in the company, valued at $3,956,983,784.20. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 1,260,413 shares of company stock worth $103,839,698. 1.80% of the stock is owned by 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.