Quarry LP Has $87,000 Stock Holdings in Kellanova (NYSE:K)

Quarry LP cut its holdings in Kellanova (NYSE:K - Free Report) by 96.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078 shares of the company's stock after selling 27,997 shares during the period. Quarry LP's holdings in Kellanova were worth $87,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of K. Oregon Public Employees Retirement Fund increased its position 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 purchasing an additional 130 shares during the last quarter. Quent Capital LLC grew 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 valued at $67,000 after buying an additional 140 shares during the period. OneAscent Financial Services LLC increased its holdings in shares of Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after buying an additional 149 shares during the last quarter. SPC Financial Inc. boosted its holdings in Kellanova by 5.7% in the fourth 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 last quarter. Finally, CENTRAL TRUST Co grew its position in Kellanova by 0.7% during the fourth 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 owned by hedge funds and other institutional investors.

Kellanova Stock Performance

K traded up $0.09 during trading on Tuesday, reaching $82.70. 655,425 shares of the company were exchanged, compared to its average volume of 2,680,159. Kellanova has a 52 week low of $55.96 and a 52 week 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 firm has a 50 day moving average of $82.40 and a 200 day moving average of $81.67. The stock has a market cap of $28.55 billion, a P/E ratio of 21.37, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last released 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). The firm had revenue of $3.08 billion for 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%. The firm's revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. On average, sell-side analysts forecast 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on K. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $79.41.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares in the company, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 1,260,413 shares of company stock worth $103,801,886. Company insiders own 1.80% of the company's stock.

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.