Kellanova (NYSE:K) Holdings Lifted by Twin Securities Inc.

Twin Securities Inc. increased its stake in shares of Kellanova (NYSE:K - Free Report) by 1,037.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,734 shares of the company's stock after acquiring an additional 254,234 shares during the period. Kellanova comprises 13.2% of Twin Securities Inc.'s holdings, making the stock its 2nd largest position. Twin Securities Inc. owned approximately 0.08% of Kellanova worth $22,569,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus target price of $79.41.

Kellanova Stock Performance

K traded down $0.39 on Wednesday, hitting $82.13. 3,055,382 shares of the company traded hands, compared to its average volume of 2,751,830. The company has a 50 day moving average of $82.37 and a 200-day moving average of $81.78. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.49 billion, a PE ratio of 21.22, a PEG ratio of 4.21 and a beta of 0.30. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. Sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.78%. Kellanova's dividend payout ratio is presently 57.58%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 1,374,996 shares of company stock valued at $113,210,296 in the last ninety days. Insiders own 1.80% of the company's stock.

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.