Vivaldi Capital Management LP Acquires Shares of 36,396 Kellanova (NYSE:K)

Vivaldi Capital Management LP bought a new position in shares of Kellanova (NYSE:K) during the 4th quarter, Holdings Channel.com reports. The fund bought 36,396 shares of the company’s stock, valued at approximately $2,982,000.

Other large investors have also modified their holdings of the company. Barclays PLC boosted its position in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Kellanova by 2.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 17,288 shares of the company’s stock valued at $1,400,000 after purchasing an additional 354 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Kellanova by 29.8% in the fourth quarter. Merit Financial Group LLC now owns 4,952 shares of the company’s stock valued at $401,000 after purchasing an additional 1,138 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Kellanova by 26.6% during the 4th quarter. Brooklyn Investment Group now owns 1,677 shares of the company’s stock worth $136,000 after purchasing an additional 352 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in shares of Kellanova by 13.1% during the 4th quarter. HB Wealth Management LLC now owns 6,743 shares of the company’s stock worth $546,000 after purchasing an additional 782 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.2%

Shares of NYSE:K opened at $82.28 on Monday. The firm has a market cap of $28.55 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a fifty day simple moving average of $82.37 and a 200 day simple moving average of $81.76. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Kellanova’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. On average, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is currently 57.58%.

Analysts Set New Price Targets

Several research firms have commented on K. StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.41.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $82.55, for a total value of $9,458,826.65. Following the sale, the insider now directly owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock worth $103,786,990 over the last ninety days. 1.80% of the stock is owned by insiders.

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.