Kellanova (NYSE:K) Position Boosted by Pentwater Capital Management LP

Pentwater Capital Management LP boosted its stake in shares of Kellanova (NYSE:K - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,755,000 shares of the company's stock after purchasing an additional 450,700 shares during the period. Kellanova makes up approximately 5.1% of Pentwater Capital Management LP's portfolio, making the stock its 3rd biggest holding. Pentwater Capital Management LP owned approximately 1.67% of Kellanova worth $465,982,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in K. Norges Bank purchased a new stake in Kellanova during the 4th quarter worth $285,126,000. Franklin Resources Inc. raised its holdings in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after buying an additional 2,313,047 shares during the period. FIL Ltd lifted its position in Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after acquiring an additional 1,542,000 shares in the last quarter. Barclays PLC lifted its position in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after acquiring an additional 1,006,100 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $82.47, for a total value of $9,449,660.01. Following the completion of the sale, the insider now directly owns 46,930,782 shares in the company, valued at $3,870,381,591.54. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock worth $103,801,886 in the last three months. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

NYSE K traded down $0.13 during trading hours on Friday, reaching $82.67. The company's stock had a trading volume of 3,879,006 shares, compared to its average volume of 2,697,540. 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 business has a 50-day simple moving average of $82.40 and a 200 day simple moving average of $81.64. The stock has a market cap of $28.54 billion, a PE ratio of 21.36, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a 52 week low of $55.96 and a 52 week 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 earnings per share (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 analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business's revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued 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 58.91%.

Analysts Set New Price Targets

A number of research firms have recently commented on K. StockNews.com began coverage on shares of Kellanova in a research report on Monday, April 21st. They set a "buy" rating on the stock. 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. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $77.96.

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.