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

Cinctive Capital Management LP grew its position in shares of Kellanova (NYSE:K) by 88.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 445,079 shares of the company’s stock after buying an additional 209,477 shares during the quarter. Kellanova accounts for 1.8% of Cinctive Capital Management LP’s portfolio, making the stock its 5th largest position. Cinctive Capital Management LP owned about 0.13% of Kellanova worth $36,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Kellanova during the 3rd quarter valued at $378,000. Townsquare Capital LLC purchased a new stake in Kellanova during the third quarter valued at $414,000. Public Sector Pension Investment Board lifted its holdings in Kellanova by 26.6% in the third quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company’s stock valued at $884,000 after acquiring an additional 2,300 shares during the period. Paloma Partners Management Co purchased a new position in Kellanova in the third quarter worth about $534,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Kellanova during the 3rd quarter valued at about $636,000. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the completion of the transaction, the insider now owns 48,534,944 shares in the company, valued at $3,951,715,140.48. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.45 on Wednesday. The business’s 50-day simple moving average is $82.27 and its two-hundred day simple moving average is $81.37. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The stock has a market cap of $28.46 billion, a PE ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last issued its 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 return on equity of 37.25% and a net margin of 10.53%. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a research note on Friday, March 28th. They issued a “hold” rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $77.96.

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.