Kellanova (NYSE:K) Shares Bought by Sona Asset Management US LLC

Sona Asset Management US LLC increased its stake in Kellanova (NYSE:K - Free Report) by 427.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 698,073 shares of the company's stock after acquiring an additional 565,839 shares during the period. Kellanova makes up approximately 2.2% of Sona Asset Management US LLC's investment portfolio, making the stock its 10th biggest position. Sona Asset Management US LLC owned 0.20% of Kellanova worth $56,523,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in K. Independent Advisor Alliance boosted its holdings in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock valued at $583,000 after purchasing an additional 1,019 shares during the period. Aviva PLC increased its position in shares of Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after acquiring an additional 13,531 shares during the period. Wedmont Private Capital acquired a new stake in Kellanova during the 4th quarter worth about $384,000. Barclays PLC grew its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. increased its holdings in shares of Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock valued at $49,622,000 after purchasing an additional 296,150 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the sale, the insider now owns 47,847,446 shares of the company's stock, valued at approximately $3,956,983,784.20. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,260,413 shares of company stock worth $103,786,990 over the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Performance

Kellanova stock traded up $0.10 during midday trading on Monday, hitting $82.40. 5,214,501 shares of the company were exchanged, compared to its average volume of 2,739,980. The firm has a market capitalization of $28.59 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The business has a fifty day simple moving average of $82.37 and a two-hundred day simple moving average of $81.76. 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 (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business's revenue for the quarter was down 3.7% compared to the same quarter last year. 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 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.