AQR Capital Management LLC Reduces Stock Holdings in Kellanova (NYSE:K)

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

Several other large investors also recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $27,000. BankPlus Trust Department acquired a new position in Kellanova in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the fourth quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on K shares. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com cut Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $79.41.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's 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 sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,374,996 shares of company stock worth $113,261,858 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Shares of Kellanova stock traded down $0.04 during trading hours on Friday, hitting $82.50. 2,183,976 shares of the company were exchanged, compared to its average volume of 2,680,225. The business has a 50-day moving average of $82.39 and a 200-day moving average of $81.71. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion during 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 previous year, the firm earned $1.01 EPS. As a group, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared 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 2.76%. Kellanova's dividend payout ratio is currently 57.58%.

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.