Kellanova (NYSE:K) is Slotnik Capital LLC's 2nd Largest Position

Slotnik Capital LLC cut its holdings in Kellanova (NYSE:K - Free Report) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 434,600 shares of the company's stock after selling 73,000 shares during the period. Kellanova accounts for 15.9% of Slotnik Capital LLC's portfolio, making the stock its 2nd largest holding. Slotnik Capital LLC owned 0.13% of Kellanova worth $35,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department purchased a new stake in shares of Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova during the fourth quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com started coverage on Kellanova in a research report on Saturday. They set a "hold" rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $77.96.

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Kellanova Trading Up 0.3 %

Shares of NYSE:K traded up $0.26 during trading on Tuesday, reaching $81.90. 1,433,164 shares of the company were exchanged, compared to its average volume of 2,701,837. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The firm has a market capitalization of $28.27 billion, a PE ratio of 21.17, a P/E/G ratio of 4.21 and a beta of 0.34. The business's fifty day simple moving average is $82.30 and its 200-day simple moving average is $81.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. On average, research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. Kellanova's dividend payout ratio (DPR) is 58.91%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total value of $9,360,285.27. Following the completion of the transaction, the insider now directly owns 48,420,361 shares of the company's stock, valued at approximately $3,955,459,290.09. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,558,970. Company insiders own 1.80% of the company's stock.

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.