Kellanova (NYSE:K) is Cinctive Capital Management LP’s 5th Largest Position

Cinctive Capital Management LP boosted its stake in shares of Kellanova (NYSE:K) by 88.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 445,079 shares of the company’s stock after acquiring an additional 209,477 shares during the quarter. Kellanova comprises about 1.8% of Cinctive Capital Management LP’s investment portfolio, making the stock its 5th biggest position. Cinctive Capital Management LP’s holdings in Kellanova were worth $36,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in K. Huntington National Bank raised its stake in shares of Kellanova by 2.2% in the fourth quarter. Huntington National Bank now owns 12,682 shares of the company’s stock valued at $1,027,000 after acquiring an additional 268 shares during the period. Geode Capital Management LLC raised 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 worth $556,014,000 after purchasing an additional 158,560 shares during the period. Diametric Capital LP lifted its stake in Kellanova by 27.5% in the fourth quarter. Diametric Capital LP now owns 11,248 shares of the company’s stock worth $911,000 after purchasing an additional 2,428 shares during the last quarter. Trans Canada Capital Inc. purchased a new position in shares of Kellanova during the fourth quarter valued at approximately $2,429,000. Finally, National Bank of Canada FI grew its stake in shares of Kellanova by 74.2% during the fourth quarter. National Bank of Canada FI now owns 273,776 shares of the company’s stock valued at $22,168,000 after buying an additional 116,572 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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 Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the sale, the insider now owns 48,649,527 shares of the company’s stock, valued at $3,954,233,554.56. This represents a 0.23 % 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 three months, insiders have sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Down 0.1 %

NYSE:K opened at $82.45 on Wednesday. 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 firm has a market cap of $28.46 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a 50-day moving average of $82.27 and a 200 day moving average of $81.37. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. As a group, research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on K. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com began coverage on Kellanova in a research report on Friday, March 28th. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $77.96.

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.