Quantinno Capital Management LP Acquires 17,240 Shares of Kellanova (NYSE:K)

Quantinno Capital Management LP raised its stake in shares of Kellanova (NYSE:K - Free Report) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,744 shares of the company's stock after acquiring an additional 17,240 shares during the quarter. Quantinno Capital Management LP's holdings in Kellanova were worth $9,291,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after purchasing an additional 281,137 shares during the last quarter. Geode Capital Management LLC lifted its position in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Pentwater Capital Management LP lifted its position in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock valued at $465,982,000 after purchasing an additional 450,700 shares during the last quarter. Invesco Ltd. lifted its position in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after purchasing an additional 111,396 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Kellanova by 15.7% in the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after purchasing an additional 530,132 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Trading Up 0.1%

Shares of K stock traded up $0.10 during trading hours on Monday, reaching $82.40. 5,214,501 shares of the stock traded hands, compared to its average volume of 2,739,980. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The business has a fifty day moving average price of $82.37 and a 200 day moving average price of $81.76. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.59 billion, a PE ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion for 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 business's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's payout ratio is 57.58%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 47,732,863 shares of the company's stock, valued at $3,940,347,840.65. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 1,260,413 shares of company stock worth $103,786,990. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on K shares. StockNews.com downgraded shares of 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.