AQR Arbitrage LLC Raises Stock Holdings in Kellanova (NYSE:K)

AQR Arbitrage LLC grew its position in Kellanova (NYSE:K - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,774 shares of the company's stock after acquiring an additional 95,057 shares during the quarter. AQR Arbitrage LLC owned about 0.11% of Kellanova worth $29,676,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in K. Independent Advisor Alliance increased its stake in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after buying an additional 1,019 shares during the period. Aviva PLC increased its position in shares of Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after acquiring an additional 13,531 shares during the period. Wedmont Private Capital bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $384,000. FNY Investment Advisers LLC purchased a new stake in shares of Kellanova in the fourth quarter valued at approximately $2,490,000. Finally, Barclays PLC grew its stake in Kellanova by 134.7% in 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. Institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on K shares. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $79.41.

Kellanova Stock Up 0.0 %

NYSE K traded up $0.03 during trading on Tuesday, hitting $82.64. The company's stock had a trading volume of 1,077,918 shares, compared to its average volume of 2,618,744. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. 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 cap of $28.53 billion, a PE ratio of 21.36, a P/E/G ratio of 4.21 and a beta of 0.30. The business's 50 day simple moving average is $82.40 and its 200-day simple moving average is $81.67.

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

Kellanova Announces Dividend

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 issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio is presently 57.58%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $82.47, for a total transaction of $9,449,660.01. Following the sale, the insider now directly owns 46,930,782 shares of the company's stock, valued at $3,870,381,591.54. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,801,886 over the last quarter. 1.80% of the stock is currently owned by company 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.