Waverly Advisors LLC Grows Position in Kellanova (NYSE:K)

Waverly Advisors LLC grew its position in shares of Kellanova (NYSE:K - Free Report) by 752.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,087 shares of the company's stock after purchasing an additional 44,212 shares during the period. Waverly Advisors LLC's holdings in Kellanova were worth $4,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of K. Vanguard Group Inc. grew its holdings in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after acquiring an additional 158,560 shares in the last quarter. Pentwater Capital Management LP increased its position in shares of Kellanova by 8.5% during the fourth quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after acquiring an additional 450,700 shares during the period. Invesco Ltd. increased its position in shares of Kellanova by 2.7% during the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after acquiring an additional 111,396 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Kellanova by 15.7% in the fourth quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after acquiring an additional 530,132 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $82.24, for a total transaction of $9,423,305.92. Following the completion of the sale, the insider now owns 46,587,033 shares in the company, valued at approximately $3,831,317,593.92. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 1,374,996 shares of company stock worth $113,210,296 in the last quarter. 1.80% of the stock is owned by insiders.

Kellanova Stock Up 0.4%

K stock traded up $0.31 during midday trading on Friday, reaching $82.39. 2,202,389 shares of the company were exchanged, compared to its average volume of 2,760,757. The company has a market cap of $28.58 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The stock's 50-day simple moving average is $82.37 and its 200 day simple moving average is $81.81.

Kellanova (NYSE:K - Get Free Report) last announced 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 company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Kellanova's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Wall Street Zen 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $79.41.

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.