Kellanova (NYSE:K) is Westchester Capital Management LLC's 3rd Largest Position

Westchester Capital Management LLC lifted its stake in shares of Kellanova (NYSE:K - Free Report) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,600,893 shares of the company's stock after purchasing an additional 265,312 shares during the quarter. Kellanova comprises approximately 7.1% of Westchester Capital Management LLC's portfolio, making the stock its 3rd biggest position. Westchester Capital Management LLC owned about 0.46% of Kellanova worth $129,624,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of K. Kovitz Investment Group Partners LLC purchased a new position in Kellanova in the fourth quarter worth $363,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Kellanova by 1.1% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 109,756 shares of the company's stock worth $8,887,000 after acquiring an additional 1,225 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Kellanova by 107.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,262,032 shares of the company's stock worth $102,187,000 after acquiring an additional 653,504 shares in the last quarter. Hsbc Holdings PLC raised its position in Kellanova by 15.6% in the fourth quarter. Hsbc Holdings PLC now owns 929,951 shares of the company's stock worth $75,248,000 after acquiring an additional 125,600 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new position in Kellanova in the fourth quarter worth $2,610,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com assumed coverage on Kellanova in a research report on Monday, April 21st. They issued a "buy" rating for the company. Royal Bank of Canada lowered 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 two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $77.96.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 48,191,195 shares of the company's stock, valued at approximately $3,962,761,964.85. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,374,996 shares of company stock valued at $113,187,379. Insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of K traded down $0.19 during trading hours on Monday, reaching $82.43. 1,757,266 shares of the company traded hands, compared to its average volume of 2,739,119. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $28.46 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The stock has a fifty day simple moving average of $82.39 and a 200 day simple moving average of $81.60.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates 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, research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's payout ratio is 58.91%.

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.