Kellanova (NYSE:K) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC cut its stake in Kellanova (NYSE:K - Free Report) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 263,254 shares of the company's stock after selling 58,206 shares during the quarter. AQR Capital Management LLC owned approximately 0.08% of Kellanova worth $21,300,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Kellanova in the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after buying an additional 173 shares in the last quarter. 83.87% of the stock is 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 stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares in the company, valued at $3,954,301,337. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 1,374,996 shares of company stock valued at $113,261,858. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Up 0.0 %

Kellanova stock traded up $0.01 during mid-day trading on Wednesday, reaching $82.55. 2,639,215 shares of the company's stock were exchanged, compared to its average volume of 2,682,327. The company has a fifty day moving average of $82.39 and a 200-day moving average of $81.68. The company has a market cap of $28.50 billion, a P/E ratio of 21.33, a P/E/G ratio of 4.21 and a beta of 0.30. 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 twelve month low of $55.96 and a twelve month high of $83.22.

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). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business's revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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 $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's dividend payout ratio is presently 57.58%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on K. 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 shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.