Capula Management Ltd Reduces Stake in Kellanova (NYSE:K)

Capula Management Ltd decreased its position in Kellanova (NYSE:K) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,464 shares of the company’s stock after selling 1,906 shares during the quarter. Kellanova makes up 0.1% of Capula Management Ltd’s portfolio, making the stock its 15th biggest holding. Capula Management Ltd’s holdings in Kellanova were worth $16,555,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Kellanova by 0.9% during the fourth 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 period. Geode Capital Management LLC increased its holdings in Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock worth $556,014,000 after acquiring an additional 158,560 shares in the last quarter. Invesco Ltd. raised its stake in Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock worth $337,489,000 after acquiring an additional 111,396 shares during the period. Norges Bank purchased a new position in Kellanova during the fourth quarter valued at approximately $285,126,000. Finally, Franklin Resources Inc. boosted its position in shares of Kellanova by 869.5% in the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after purchasing an additional 2,313,047 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the transaction, the insider now directly owns 47,274,531 shares of the company’s stock, valued at approximately $3,877,929,777.93. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,260,413 shares of company stock worth $103,558,970 over the last quarter. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on K shares. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com started coverage on Kellanova in a research report on Saturday. They set a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

NYSE:K opened at $81.76 on Tuesday. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 4.21 and a beta of 0.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The business has a 50 day simple moving average of $82.30 and a 200-day simple moving average of $81.41. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is currently 58.91%.

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.