Janus Henderson Group PLC Sells 33,012 Shares of Kellanova (NYSE:K)

Janus Henderson Group PLC trimmed its holdings in Kellanova (NYSE:K - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,173 shares of the company's stock after selling 33,012 shares during the period. Janus Henderson Group PLC's holdings in Kellanova were worth $13,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hudson Bay Capital Management LP boosted its stake in Kellanova by 53.8% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,000,000 shares of the company's stock valued at $80,970,000 after acquiring an additional 350,000 shares during the period. Humankind Investments LLC grew its stake in Kellanova by 3.9% during the 4th quarter. Humankind Investments LLC now owns 5,117 shares of the company's stock worth $414,000 after buying an additional 191 shares during the last quarter. Governors Lane LP increased its position in Kellanova by 35.9% in the fourth quarter. Governors Lane LP now owns 491,708 shares of the company's stock worth $39,814,000 after buying an additional 129,908 shares during the period. Fort Baker Capital Management LP lifted its stake in Kellanova by 178.7% in the fourth quarter. Fort Baker Capital Management LP now owns 535,479 shares of the company's stock valued at $43,358,000 after buying an additional 343,315 shares during the last quarter. Finally, Eisler Capital Management Ltd. bought a new position in shares of Kellanova during the fourth quarter worth about $3,682,000. Institutional investors own 83.87% of the company's stock.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the transaction, the insider now owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,786,990. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on K. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank of Canada downgraded shares of 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $79.41.

Kellanova Stock Performance

K traded up $0.10 on Tuesday, hitting $82.50. The company had a trading volume of 3,329,911 shares, compared to its average volume of 2,742,331. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The company's fifty day moving average price is $82.37 and its 200 day moving average price is $81.77. 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 stock has a market cap of $28.62 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data 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 business 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 for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. Equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova's dividend payout ratio (DPR) is 57.58%.

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.