Yakira Capital Management Inc. Acquires 72,500 Shares of Kellanova (NYSE:K)

Yakira Capital Management Inc. grew its stake in shares of Kellanova (NYSE:K - Free Report) by 318.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,250 shares of the company's stock after buying an additional 72,500 shares during the period. Kellanova accounts for approximately 2.8% of Yakira Capital Management Inc.'s holdings, making the stock its 4th biggest holding. Yakira Capital Management Inc.'s holdings in Kellanova were worth $7,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in K. Vanguard Group Inc. grew its stake in Kellanova by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after buying an additional 281,137 shares during the period. State Street Corp increased its holdings in Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC raised its position in Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares during the period. Norges Bank acquired a new position in shares of Kellanova during the fourth quarter worth about $285,126,000. Finally, Franklin Resources Inc. boosted its position in shares of Kellanova by 869.5% in the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after buying an additional 2,313,047 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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Kellanova Stock Performance

K stock traded up $0.14 during trading on Friday, hitting $82.28. 1,614,918 shares of the company's stock traded hands, compared to its average volume of 2,727,786. The stock has a fifty day moving average price of $82.33 and a two-hundred day moving average price of $81.45. 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 52 week low of $55.01 and a 52 week high of $83.22. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

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

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. 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 2.77%. Kellanova's payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

K has been the topic of several recent research reports. StockNews.com began coverage on Kellanova in a research report on Saturday, April 5th. They set a "hold" rating on the stock. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kellanova has a consensus 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 company's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the completion of the transaction, the insider now owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,260,413 shares of company stock valued at $103,558,970 over the last three months. Company insiders own 1.80% of the company's stock.

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.