Kellanova (NYSE:K) Stake Lowered by DLD Asset Management LP

DLD Asset Management LP cut its stake in Kellanova (NYSE:K) by 30.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,903 shares of the company’s stock after selling 15,847 shares during the quarter. DLD Asset Management LP’s holdings in Kellanova were worth $2,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of K. Norges Bank acquired a new stake in shares of Kellanova in the 4th quarter valued at $285,126,000. Franklin Resources Inc. raised its holdings in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after buying an additional 2,313,047 shares in the last quarter. 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 valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. State Street Corp lifted its position in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its stake in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

K has been the subject of several analyst reports. StockNews.com initiated coverage on Kellanova in a report on Friday, March 28th. They issued a “hold” rating for the company. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Down 0.1 %

NYSE K opened at $82.45 on Wednesday. Kellanova has a twelve month low of $55.01 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. The stock has a market cap of $28.46 billion, a PE ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. The firm has a 50-day simple moving average of $82.27 and a 200 day simple moving average of $81.37.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the transaction, the insider now directly owns 48,649,527 shares in the company, valued at $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Corporate insiders own 1.80% of the company’s stock.

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.