Slotnik Capital LLC Sells 73,000 Shares of Kellanova (NYSE:K)

Slotnik Capital LLC lowered its stake in Kellanova (NYSE:K) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 434,600 shares of the company’s stock after selling 73,000 shares during the quarter. Kellanova makes up 15.9% of Slotnik Capital LLC’s investment portfolio, making the stock its 2nd largest holding. Slotnik Capital LLC owned about 0.13% of Kellanova worth $35,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock valued at $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. State Street Corp raised its position in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Geode Capital Management LLC lifted its stake in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock worth $556,014,000 after acquiring an additional 158,560 shares in the last quarter. Norges Bank acquired a new stake in Kellanova during the 4th quarter worth about $285,126,000. Finally, Franklin Resources Inc. grew its stake in Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $82.50 on Thursday. Kellanova has a one year low of $55.01 and a one year high of $83.22. The company’s fifty day moving average price is $82.28 and its two-hundred day moving average price is $81.38. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. On average, analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.76%. 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 stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock worth $103,473,032 in the last 90 days. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on K shares. StockNews.com began coverage on shares of Kellanova in a research report on Friday, March 28th. They issued a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $77.96.

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.