AQR Capital Management LLC Has $22.60 Million Position in Kellanova $K

AQR Capital Management LLC increased its stake in shares of Kellanova (NYSE:K - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 274,019 shares of the company's stock after acquiring an additional 10,765 shares during the period. AQR Capital Management LLC owned 0.08% of Kellanova worth $22,604,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Kellanova by 66.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company's stock valued at $199,049,000 after buying an additional 962,172 shares during the last quarter. Sona Asset Management US LLC grew its holdings in Kellanova by 427.9% in the 4th quarter. Sona Asset Management US LLC now owns 698,073 shares of the company's stock valued at $56,523,000 after buying an additional 565,839 shares during the last quarter. GAMMA Investing LLC grew its holdings in Kellanova by 8,377.9% in the 1st quarter. GAMMA Investing LLC now owns 568,274 shares of the company's stock valued at $46,877,000 after buying an additional 561,571 shares during the last quarter. Alpine Associates Management Inc. grew its holdings in Kellanova by 89.0% in the 1st quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company's stock valued at $95,536,000 after buying an additional 545,300 shares during the last quarter. Finally, CIBRA Capital Ltd acquired a new stake in Kellanova in the 4th quarter valued at approximately $29,989,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on K shares. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. started coverage on Kellanova in a report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 target price on the stock. Finally, Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and an average price target of $83.38.

Kellanova Trading Down 0.6%

NYSE:K traded down $0.46 on Wednesday, reaching $79.02. The company's stock had a trading volume of 3,478,011 shares, compared to its average volume of 2,382,595. Kellanova has a 1-year low of $77.70 and a 1-year high of $83.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The firm has a market cap of $27.47 billion, a PE ratio of 20.74, a PEG ratio of 4.95 and a beta of 0.27. The business's 50-day moving average price is $79.78 and its two-hundred day moving average price is $81.15.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.9%. This is a boost from Kellanova's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 2nd. Kellanova's payout ratio is currently 60.89%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares of the company's stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,145,846 shares of company stock worth $91,267,778 over the last ninety days. 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.