Tidal Investments LLC Cuts Stock Holdings in Kellanova (NYSE:K)

Tidal Investments LLC reduced its position in Kellanova (NYSE:K) by 16.7% in the third quarter, Holdings Channel.com reports. The fund owned 48,702 shares of the company’s stock after selling 9,769 shares during the period. Tidal Investments LLC’s holdings in Kellanova were worth $3,931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after acquiring an additional 731,273 shares during the period. Geode Capital Management LLC grew its position in Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after purchasing an additional 196,564 shares during the period. Dimensional Fund Advisors LP raised its stake in Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after buying an additional 277,171 shares during the last quarter. Yacktman Asset Management LP raised its stake in Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after buying an additional 10,510 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on K. DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. StockNews.com assumed coverage on shares of Kellanova in a research report on Saturday. They set a “hold” rating for the company. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.35.

Insider Transactions 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 Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 1,145,830 shares of company stock valued at $92,568,168. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Down 0.2 %

Shares of K stock opened at $80.56 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The stock has a fifty day simple moving average of $80.82 and a two-hundred day simple moving average of $72.65. The firm has a market capitalization of $27.77 billion, a PE ratio of 27.68, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

About Kellanova

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.