Kellanova (NYSE:K) Shares Sold by Woodline Partners LP

Woodline Partners LP cut its position in shares of Kellanova (NYSE:K - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,632 shares of the company's stock after selling 100,434 shares during the period. Woodline Partners LP owned approximately 0.10% of Kellanova worth $29,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new stake in Kellanova during the fourth quarter valued at approximately $226,000. Vivaldi Capital Management LP bought a new stake in Kellanova during the 4th quarter valued at $2,982,000. Twin Securities Inc. boosted its position in Kellanova by 1,037.7% during the 4th quarter. Twin Securities Inc. now owns 278,734 shares of the company's stock valued at $22,569,000 after acquiring an additional 254,234 shares in the last quarter. Sand Grove Capital Management LLP boosted its position in Kellanova by 10.8% during the 4th quarter. Sand Grove Capital Management LLP now owns 277,937 shares of the company's stock valued at $22,505,000 after acquiring an additional 26,991 shares in the last quarter. Finally, Siemens Fonds Invest GmbH boosted its position in Kellanova by 257.5% during the 4th quarter. Siemens Fonds Invest GmbH now owns 33,532 shares of the company's stock valued at $2,715,000 after acquiring an additional 24,153 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $79.41.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. This represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,374,996 shares of company stock valued at $113,210,296 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Kellanova stock traded up $0.31 during trading hours on Friday, hitting $82.39. 2,202,389 shares of the stock traded hands, compared to its average volume of 2,756,470. 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 firm's 50 day moving average price is $82.37 and its 200-day moving average price is $81.80. The stock has a market capitalization of $28.58 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.30. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22.

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

Kellanova Dividend Announcement

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

Kellanova 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.