Governors Lane LP Has $39.81 Million Position in Kellanova (NYSE:K)

Governors Lane LP boosted its stake in shares of Kellanova (NYSE:K - Free Report) by 35.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,708 shares of the company's stock after acquiring an additional 129,908 shares during the quarter. Kellanova accounts for 3.1% of Governors Lane LP's portfolio, making the stock its 8th largest position. Governors Lane LP owned about 0.14% of Kellanova worth $39,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its holdings in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock worth $67,000 after acquiring an additional 140 shares during the period. OneAscent Financial Services LLC boosted its stake in Kellanova by 4.7% in the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock valued at $268,000 after purchasing an additional 149 shares during the period. SPC Financial Inc. lifted its position in shares of Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after acquiring an additional 160 shares during the period. Finally, CENTRAL TRUST Co lifted its position in shares of Kellanova by 0.7% during the 4th 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 during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the transaction, the insider now owns 47,847,446 shares of the company's stock, valued at $3,956,983,784.20. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 1,260,413 shares of company stock worth $103,839,698. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

Shares of NYSE:K traded down $0.14 during midday trading on Tuesday, reaching $82.17. 430,600 shares of the company traded hands, compared to its average volume of 2,672,203. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The firm has a market capitalization of $28.51 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The firm's fifty day moving average price is $82.39 and its two-hundred day moving average price is $81.72.

Kellanova (NYSE:K - Get Free Report) last announced 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 the consensus estimate 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 company earned $1.01 earnings per share. On average, equities analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova's payout ratio is currently 57.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com cut Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.41.

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.