Kellanova (NYSE:K) is Kellogg W K Foundation Trust's Largest Position

Kellogg W K Foundation Trust trimmed its position in Kellanova (NYSE:K - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,389,114 shares of the company's stock after selling 1,374,996 shares during the quarter. Kellanova accounts for approximately 93.6% of Kellogg W K Foundation Trust's holdings, making the stock its biggest holding. Kellogg W K Foundation Trust owned about 13.73% of Kellanova worth $3,909,128,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Kellanova in the fourth quarter valued at $285,126,000. Franklin Resources Inc. boosted its holdings in Kellanova by 869.5% in the fourth 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 boosted its holdings in Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after acquiring an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in Kellanova by 136.0% in 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 acquiring an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC boosted its holdings in Kellanova by 76.5% in the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock valued at $152,084,000 after acquiring an additional 813,901 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $79.54, for a total value of $9,113,931.82. Following the completion of the transaction, the insider owned 45,784,952 shares of the company's stock, valued at approximately $3,641,735,082.08. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 1,374,996 shares of company stock valued at $111,198,218. 1.80% of the stock is owned by insiders.

Kellanova Stock Down 0.0%

Shares of K traded down $0.00 during trading hours on Friday, hitting $79.86. The company had a trading volume of 2,069,555 shares, compared to its average volume of 2,930,639. The firm has a fifty day moving average price of $80.48 and a 200-day moving average price of $81.62. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The stock has a market capitalization of $27.71 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 4.25 and a beta of 0.28. Kellanova has a 52-week low of $56.62 and a 52-week high of $83.22.

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

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.91%. This is a positive change from Kellanova's previous quarterly dividend of $0.57. Kellanova's payout ratio is currently 57.58%.

Analyst Ratings Changes

K has been the topic of several recent analyst reports. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 price target on the stock in a report on Thursday, May 29th. Fourteen equities 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, Kellanova presently has a consensus rating of "Hold" and an average price target of $79.75.

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.