Twin Tree Management LP Takes Position in Kellanova (NYSE:K)

Twin Tree Management LP purchased a new stake in Kellanova (NYSE:K) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 477 shares of the company’s stock, valued at approximately $39,000.

Several other large investors have also modified their holdings of K. Stonebridge Financial Group LLC acquired a new stake in Kellanova during the fourth quarter worth approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova during the fourth quarter worth approximately $32,000. First Horizon Advisors Inc. boosted its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in Kellanova during the fourth quarter worth approximately $43,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on K shares. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. StockNews.com started coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Stock Performance

Shares of K stock opened at $82.36 on Thursday. The company’s fifty day simple moving average is $82.11 and its 200-day simple moving average is $81.23. Kellanova has a 52 week low of $54.70 and a 52 week high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,099,492. 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.