Pentwater Capital Management LP Has $465.98 Million Position in Kellanova (NYSE:K)

Pentwater Capital Management LP boosted its holdings in Kellanova (NYSE:K) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,755,000 shares of the company’s stock after purchasing an additional 450,700 shares during the period. Kellanova comprises about 5.1% of Pentwater Capital Management LP’s portfolio, making the stock its 3rd largest holding. Pentwater Capital Management LP owned 1.67% of Kellanova worth $465,982,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in K. Oregon Public Employees Retirement Fund lifted its stake in Kellanova by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC lifted its stake in Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after acquiring an additional 140 shares during the last quarter. OneAscent Financial Services LLC lifted its stake in Kellanova by 4.7% in the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock valued at $268,000 after acquiring an additional 149 shares during the last quarter. SPC Financial Inc. lifted its stake in Kellanova by 5.7% in the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after acquiring an additional 160 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its stake in Kellanova by 0.7% in the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock valued at $1,820,000 after acquiring an additional 162 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $82.23, for a total value of $9,422,160.09. Following the completion of the transaction, the insider now directly owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,801,886. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on K. StockNews.com began coverage on shares of Kellanova in a research note on Monday, April 21st. They issued a “buy” rating for the company. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

Shares of Kellanova stock opened at $82.43 on Tuesday. The company has a 50-day simple moving average of $82.39 and a two-hundred day simple moving average of $81.61. The stock has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. 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 has a twelve month low of $55.96 and a twelve month high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio 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.