Tidal Investments LLC Sells 9,769 Shares of Kellanova (NYSE:K)

Tidal Investments LLC decreased its position in Kellanova (NYSE:K - Free Report) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,702 shares of the company's stock after selling 9,769 shares during the quarter. Tidal Investments LLC's holdings in Kellanova were worth $3,931,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. grew its position in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock worth $108,532,000 after acquiring an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Kellanova during the second quarter worth approximately $88,065,000. Westchester Capital Management LLC purchased a new position in shares of Kellanova during the third quarter worth approximately $107,795,000. Point72 Asset Management L.P. purchased a new position in shares of Kellanova during the second quarter worth approximately $63,585,000. Finally, Barclays PLC grew its position in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Down 0.2 %

Shares of K stock traded down $0.15 on Friday, reaching $80.56. 2,632,314 shares of the stock were exchanged, compared to its average volume of 2,939,740. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a one year low of $52.46 and a one year high of $81.34. The stock has a 50 day moving average price of $80.82 and a 200 day moving average price of $72.65. The stock has a market cap of $27.77 billion, a PE ratio of 27.68, a P/E/G ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities research analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova's dividend payout ratio is 78.35%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $80.68, for a total transaction of $9,244,556.44. Following the sale, the insider now owns 50,253,689 shares of the company's stock, valued at $4,054,467,628.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 1,145,830 shares of company stock worth $92,568,168 over the last 90 days. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.