Cinctive Capital Management LP Has $36.04 Million Position in Kellanova (NYSE:K)

Cinctive Capital Management LP boosted its stake in Kellanova (NYSE:K - Free Report) by 88.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,079 shares of the company's stock after purchasing an additional 209,477 shares during the quarter. Kellanova comprises approximately 1.8% of Cinctive Capital Management LP's portfolio, making the stock its 5th biggest holding. Cinctive Capital Management LP owned approximately 0.13% of Kellanova worth $36,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP bought a new position in shares of Kellanova during the 3rd quarter valued at about $378,000. Townsquare Capital LLC bought a new stake in shares of Kellanova in the 3rd quarter valued at about $414,000. Public Sector Pension Investment Board boosted its holdings in Kellanova by 26.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company's stock valued at $884,000 after acquiring an additional 2,300 shares during the period. Paloma Partners Management Co bought a new position in Kellanova during the 3rd quarter worth approximately $534,000. Finally, Benjamin Edwards Inc. bought a new position in Kellanova during the 3rd quarter worth approximately $636,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,260,413 shares of company stock worth $103,473,032 in the last three months. 1.80% of the stock is owned by corporate insiders.

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Kellanova Stock Down 0.7 %

K traded down $0.54 on Monday, hitting $81.71. The company had a trading volume of 5,014,399 shares, compared to its average volume of 2,447,437. 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 debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market capitalization of $28.21 billion, a P/E ratio of 21.11, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio is presently 58.91%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on K. StockNews.com began coverage on Kellanova in a research note on Saturday. They set a "hold" rating for the company. Royal Bank of Canada lowered shares of 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $77.96.

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.