Two Sigma Investments LP Cuts Stock Holdings in Kellanova (NYSE:K)

Two Sigma Investments LP cut its holdings in shares of Kellanova (NYSE:K - Free Report) by 53.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,800 shares of the company's stock after selling 50,232 shares during the period. Two Sigma Investments LP's holdings in Kellanova were worth $3,546,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its stake in Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock valued at $1,870,000 after buying an additional 130 shares in the last quarter. Quent Capital LLC lifted its stake in Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after buying an additional 140 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in Kellanova by 4.7% in the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock valued at $268,000 after buying an additional 149 shares in the last quarter. SPC Financial Inc. lifted its stake in Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after buying an additional 160 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in Kellanova by 0.7% in the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock valued at $1,820,000 after buying an additional 162 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $81.79, for a total value of $9,371,743.57. Following the completion of the sale, the insider now directly owns 46,701,616 shares of the company's stock, valued at approximately $3,819,725,172.64. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 1,374,996 shares of company stock worth $113,174,775. Corporate insiders own 1.80% of the company's stock.

Kellanova Trading Down 0.3%

Kellanova stock traded down $0.24 during trading on Tuesday, hitting $81.89. The company had a trading volume of 2,993,687 shares, compared to its average volume of 2,769,980. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company's 50 day simple moving average is $82.36 and its 200-day simple moving average is $81.88. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The business's revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. As a group, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.78%. Kellanova's payout ratio is currently 57.58%.

Analysts Set New Price Targets

A number of research firms have weighed in on K. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research note on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $79.75.

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.