Kellanova (NYSE:K) Stock Position Increased by TIG Advisors LLC

TIG Advisors LLC lifted its holdings in Kellanova (NYSE:K - Free Report) by 76.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,878,275 shares of the company's stock after purchasing an additional 813,901 shares during the period. Kellanova comprises approximately 10.7% of TIG Advisors LLC's holdings, making the stock its biggest position. TIG Advisors LLC owned approximately 0.54% of Kellanova worth $152,084,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Independent Advisor Alliance lifted its position 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 acquiring an additional 1,019 shares in the last quarter. Aviva PLC raised its position in shares of Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company's stock valued at $43,943,000 after buying an additional 13,531 shares during the last quarter. Wedmont Private Capital bought a new position in shares of Kellanova during the fourth quarter worth $384,000. FNY Investment Advisers LLC purchased a new position in Kellanova during the fourth quarter valued at $2,490,000. Finally, Barclays PLC increased its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on K. StockNews.com started coverage on Kellanova in a research report on Monday, April 21st. They set a "buy" rating for the company. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $77.96.

Kellanova Trading Down 0.2 %

K stock traded down $0.13 during trading on Friday, hitting $82.67. The company had a trading volume of 3,879,006 shares, compared to its average volume of 2,697,540. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The company has a 50 day simple moving average of $82.40 and a 200-day simple moving average of $81.64. The firm has a market capitalization of $28.54 billion, a P/E ratio of 21.36, a PEG ratio of 4.21 and a beta of 0.34. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the business posted $1.01 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year. As a group, research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.57 per share. 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%.

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 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares of the company's stock, valued at $3,954,301,337. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,801,886. 1.80% of the stock is currently owned by corporate insiders.

About Kellanova

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.