Kellanova (NYSE:K) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its stake in shares of Kellanova (NYSE:K - Free Report) by 58.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,187 shares of the company's stock after selling 28,515 shares during the period. Tidal Investments LLC's holdings in Kellanova were worth $1,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Independent Advisor Alliance raised its position in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after acquiring an additional 1,019 shares during the period. Aviva PLC raised its holdings 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 purchasing an additional 13,531 shares during the period. Barclays PLC boosted its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Alpine Associates Management Inc. grew its holdings in Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after purchasing an additional 296,150 shares during the period. Finally, Decagon Asset Management LLP acquired a new stake in Kellanova in the fourth quarter valued at approximately $10,125,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Price Performance

K traded up $0.10 on Tuesday, reaching $82.49. 4,202,741 shares of the company's stock were exchanged, compared to its average volume of 2,770,359. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The stock has a market cap of $28.62 billion, a PE ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock's fifty day moving average price is $82.37 and its 200-day moving average price is $81.83.

Kellanova (NYSE:K - Get Free Report) last released its earnings results 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). The business had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. Sell-side analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on K shares. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. 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. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova has a consensus rating of "Hold" and a consensus target price of $79.41.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the transaction, the insider now owns 47,847,446 shares of the company's stock, valued at $3,956,983,784.20. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,374,996 shares of company stock valued at $113,210,296 in the last three months. 1.80% of the stock is currently owned by insiders.

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.