Kellanova (NYSE:K) Stock Holdings Boosted by Yakira Capital Management Inc.

Yakira Capital Management Inc. boosted its stake in Kellanova (NYSE:K) by 318.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 95,250 shares of the company’s stock after purchasing an additional 72,500 shares during the period. Kellanova makes up 2.8% of Yakira Capital Management Inc.’s portfolio, making the stock its 4th largest position. Yakira Capital Management Inc.’s holdings in Kellanova were worth $7,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter worth $27,000. BankPlus Trust Department purchased a new position in Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova in the fourth quarter valued at about $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova in the 4th quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. increased its position in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the sale, the insider now directly owns 47,389,114 shares of the company’s stock, valued at $3,906,758,558.16. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 1,260,413 shares of company stock valued at $103,473,032. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com began coverage on Kellanova in a report on Saturday. They issued a “hold” rating for the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Down 0.4 %

NYSE:K opened at $82.25 on Friday. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $82.31 and a 200-day simple moving average of $81.40. The company has a market capitalization of $28.39 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

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

Kellanova Dividend Announcement

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

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.