Kellanova (NYSE:K) Shares Sold by LRI Investments LLC

LRI Investments LLC decreased its position in shares of Kellanova (NYSE:K) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,107 shares of the company’s stock after selling 368 shares during the quarter. LRI Investments LLC’s holdings in Kellanova were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Hudson Bay Capital Management LP lifted its position in Kellanova by 53.8% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,000,000 shares of the company’s stock valued at $80,970,000 after buying an additional 350,000 shares during the last quarter. Humankind Investments LLC lifted its position in Kellanova by 3.9% in the fourth quarter. Humankind Investments LLC now owns 5,117 shares of the company’s stock valued at $414,000 after buying an additional 191 shares during the last quarter. Governors Lane LP lifted its position in Kellanova by 35.9% in the fourth quarter. Governors Lane LP now owns 491,708 shares of the company’s stock valued at $39,814,000 after buying an additional 129,908 shares during the last quarter. Fort Baker Capital Management LP lifted its position in Kellanova by 178.7% in the fourth quarter. Fort Baker Capital Management LP now owns 535,479 shares of the company’s stock valued at $43,358,000 after buying an additional 343,315 shares during the last quarter. Finally, Eisler Capital Management Ltd. acquired a new position in Kellanova in the fourth quarter valued at about $3,682,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on K. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $79.41.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $82.56, for a total value of $9,459,972.48. Following the transaction, the insider now directly owns 46,816,199 shares in the company, valued at $3,865,145,389.44. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 1,260,413 shares of company stock worth $103,839,698. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.0%

Shares of K opened at $82.50 on Monday. The stock has a market capitalization of $28.62 billion, a PE ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.30. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company’s 50-day simple moving average is $82.39 and its 200-day simple moving average is $81.71.

Kellanova (NYSE:K) last issued 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). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid 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 payout ratio is 57.58%.

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.