Kellanova (NYSE:K) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. trimmed its position in shares of Kellanova (NYSE:K - Free Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the company's stock after selling 5,000 shares during the period. Polar Asset Management Partners Inc.'s holdings in Kellanova were worth $1,619,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in K. Independent Advisor Alliance grew its stake in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after acquiring an additional 1,019 shares in the last quarter. Aviva PLC grew its stake in Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock worth $43,943,000 after acquiring an additional 13,531 shares in the last quarter. Barclays PLC grew its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Alpine Associates Management Inc. grew its stake in Kellanova by 93.5% in the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after acquiring an additional 296,150 shares in the last quarter. Finally, Decagon Asset Management LLP bought a new position in Kellanova in the 4th quarter worth about $10,125,000. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and an average target price of $79.75.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares in the company, valued at $3,940,347,840.65. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 1,374,996 shares of company stock worth $113,174,775. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Kellanova stock traded up $0.10 during mid-day trading on Friday, reaching $82.60. 5,559,902 shares of the company traded hands, compared to its average volume of 2,765,622. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a market capitalization of $28.66 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The firm's fifty day moving average is $82.38 and its two-hundred day moving average is $81.86.

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

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 yield of 2.76%. Kellanova's payout ratio is 57.58%.

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.