Kellanova (NYSE:K) Shares Purchased by Readystate Asset Management LP

Readystate Asset Management LP raised its stake in shares of Kellanova (NYSE:K - Free Report) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 728,247 shares of the company's stock after buying an additional 68,781 shares during the quarter. Kellanova comprises about 2.0% of Readystate Asset Management LP's investment portfolio, making the stock its 6th biggest position. Readystate Asset Management LP owned about 0.21% of Kellanova worth $60,073,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Kellanova during the fourth quarter worth approximately $285,126,000. Franklin Resources Inc. raised its stake in shares of Kellanova by 869.5% in 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. FIL Ltd lifted its position in Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Tudor Investment Corp ET AL raised its position in shares of Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock valued at $141,356,000 after buying an additional 1,006,100 shares during the last quarter. Finally, TIG Advisors LLC raised its position in Kellanova by 76.5% in the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock worth $152,084,000 after purchasing an additional 813,901 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Price Performance

Kellanova stock traded down $0.09 during mid-day trading on Wednesday, reaching $80.00. 356,693 shares of the company's stock traded hands, compared to its average volume of 3,058,105. The company has a market cap of $27.75 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 4.24 and a beta of 0.28. The stock has a 50 day moving average of $80.70 and a two-hundred day moving average of $81.68. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 12-month low of $56.37 and a 12-month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm earned $1.01 EPS. The company's revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.85%. Kellanova's payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent research reports. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a research note on Thursday, May 29th. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.75.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, July 14th. The stock was sold at an average price of $79.54, for a total transaction of $9,113,931.82. Following the transaction, the insider owned 45,784,952 shares in the company, valued at $3,641,735,082.08. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 1,374,996 shares of company stock valued at $111,198,218. Company 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.