Man Group plc Reduces Position in Kellanova (NYSE:K)

Man Group plc lessened its position in shares of Kellanova (NYSE:K - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 555,716 shares of the company's stock after selling 120,105 shares during the period. Man Group plc owned approximately 0.16% of Kellanova worth $44,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its position in shares of Kellanova by 1.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,854 shares of the company's stock worth $2,748,000 after acquiring an additional 614 shares in the last quarter. NorthRock Partners LLC bought a new position in Kellanova in the 4th quarter worth approximately $858,000. Minot DeBlois Advisors LLC bought a new position in Kellanova in the 4th quarter valued at $42,000. Moore Capital Management LP raised its stake in Kellanova by 23.5% in the fourth quarter. Moore Capital Management LP now owns 105,000 shares of the company's stock valued at $8,502,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its position in shares of Kellanova by 53.8% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,000,000 shares of the company's stock valued at $80,970,000 after purchasing an additional 350,000 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Up 0.1%

K stock traded up $0.10 during midday trading on Monday, reaching $82.40. The company's stock had a trading volume of 4,852,746 shares, compared to its average volume of 2,738,603. The firm has a market capitalization of $28.59 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The stock has a fifty day simple moving average of $82.37 and a two-hundred day simple moving average of $81.76.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results 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 business had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. On average, equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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 paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's dividend payout ratio is currently 57.58%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $81.79, for a total transaction of $9,371,743.57. Following the completion of the transaction, the insider now directly owns 46,701,616 shares of the company's stock, valued at approximately $3,819,725,172.64. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,260,413 shares of company stock valued at $103,786,990 over the last ninety days. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

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

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.