Kellanova (NYSE:K) Shares Bought by Oak Thistle LLC

Oak Thistle LLC boosted its holdings in Kellanova (NYSE:K - Free Report) by 65.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,752 shares of the company's stock after acquiring an additional 5,860 shares during the period. Oak Thistle LLC's holdings in Kellanova were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after acquiring an additional 281,137 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Kellanova by 0.7% during the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after purchasing an additional 128,439 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Pentwater Capital Management LP boosted its stake in shares of Kellanova by 8.5% during the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after purchasing an additional 111,396 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on K. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target 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 research report on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $79.75.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $79.92, for a total value of $9,157,473.36. Following the completion of the sale, the insider owned 45,670,369 shares of the company's stock, valued at $3,649,975,890.48. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 1,374,996 shares of company stock valued at $111,198,218 over the last three months. Corporate insiders own 1.80% of the company's stock.

Kellanova Stock Performance

Shares of Kellanova stock traded down $0.00 during trading on Friday, hitting $79.86. 2,069,555 shares of the stock were exchanged, compared to its average volume of 2,930,639. The stock's fifty day moving average is $80.48 and its 200 day moving average is $81.62. The stock has a market cap of $27.71 billion, a PE ratio of 20.17, a P/E/G ratio of 4.25 and a beta of 0.28. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. Kellanova has a 12 month low of $56.62 and a 12 month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released 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 firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.91%. This is an increase from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio is presently 57.58%.

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.