Magnetar Financial LLC Sells 57,786 Shares of Kellanova (NYSE:K)

Magnetar Financial LLC cut its position in Kellanova (NYSE:K) by 5.8% during the 4th quarter, HoldingsChannel reports. The firm owned 940,006 shares of the company’s stock after selling 57,786 shares during the quarter. Kellanova comprises about 1.8% of Magnetar Financial LLC’s portfolio, making the stock its 9th largest holding. Magnetar Financial LLC’s holdings in Kellanova were worth $76,112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Investors Research Corp raised its holdings in shares of Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after acquiring an additional 130 shares during the period. Quent Capital LLC raised its holdings in shares of Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock worth $67,000 after acquiring an additional 140 shares during the period. Sanctuary Advisors LLC increased its stake in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares during the last quarter. Finally, SPC Financial Inc. increased its stake in Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after buying an additional 160 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,260,413 shares of company stock valued at $103,099,492. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Shares of K opened at $82.36 on Thursday. The firm has a 50-day moving average of $82.11 and a 200-day moving average of $81.23. Kellanova has a one year low of $54.70 and a one year high of $83.22. The company has a market cap of $28.43 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 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, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note 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 target on the stock in a research note on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.