DLD Asset Management LP Has $2.99 Million Stake in Kellanova (NYSE:K)

DLD Asset Management LP lowered its holdings in Kellanova (NYSE:K) by 30.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,903 shares of the company’s stock after selling 15,847 shares during the quarter. DLD Asset Management LP’s holdings in Kellanova were worth $2,988,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Kellanova by 2.2% during the fourth quarter. Huntington National Bank now owns 12,682 shares of the company’s stock valued at $1,027,000 after purchasing an additional 268 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $556,014,000 after buying an additional 158,560 shares during the last quarter. Diametric Capital LP increased its stake in shares of Kellanova by 27.5% in the 4th quarter. Diametric Capital LP now owns 11,248 shares of the company’s stock valued at $911,000 after buying an additional 2,428 shares during the period. Trans Canada Capital Inc. bought a new stake in shares of Kellanova during the fourth quarter worth $2,429,000. Finally, National Bank of Canada FI lifted 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 acquiring an additional 116,572 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on K shares. StockNews.com assumed coverage on Kellanova in a research report on Friday, March 28th. They issued a “hold” rating for the company. 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. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Down 0.1 %

Shares of NYSE K opened at $82.45 on Wednesday. Kellanova has a 52-week low of $55.01 and a 52-week 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 stock has a market cap of $28.46 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. The firm has a 50 day moving average price of $82.27 and a 200 day moving average price of $81.37.

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

Kellanova Announces Dividend

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

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the sale, the insider now directly owns 48,534,944 shares in the company, valued at $3,951,715,140.48. 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 is available at this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $103,473,032 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.