Twin Tree Management LP Makes New $39,000 Investment in Kellanova (NYSE:K)

Twin Tree Management LP purchased a new stake in Kellanova (NYSE:K) in the 4th quarter, Holdings Channel.com reports. The firm purchased 477 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the 4th quarter valued at about $27,000. BankPlus Trust Department bought a new stake in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new stake in Kellanova in the 4th quarter valued at about $32,000. First Horizon Advisors Inc. lifted its position in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Finally, Sherman Asset Management Inc. bought a new stake in Kellanova in the 4th quarter valued at about $43,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

K has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Kellanova in a research report on Thursday. They issued a “hold” rating on the stock. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Up 0.0 %

K stock opened at $82.36 on Thursday. Kellanova has a 52 week low of $54.70 and a 52 week high of $83.22. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The firm’s 50-day moving average is $82.11 and its two-hundred day moving average is $81.23. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. On average, 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 was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s payout ratio is currently 58.91%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $82.26, for a total value of $9,425,597.58. Following the transaction, the insider now directly owns 47,618,280 shares of the company’s stock, valued at $3,917,079,712.80. This trade 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. Insiders have sold 1,260,413 shares of company stock worth $103,099,492 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

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.