Paloma Partners Management Co Boosts Stock Holdings in Kellanova (NYSE:K)

Paloma Partners Management Co increased its position in shares of Kellanova (NYSE:K) by 322.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,923 shares of the company’s stock after purchasing an additional 21,311 shares during the period. Paloma Partners Management Co’s holdings in Kellanova were worth $2,261,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Independent Advisor Alliance lifted its position in shares of Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after acquiring an additional 1,019 shares during the period. Aviva PLC boosted its position in Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock worth $43,943,000 after purchasing an additional 13,531 shares in the last quarter. Wedmont Private Capital purchased a new stake in Kellanova during the fourth quarter worth $384,000. FNY Investment Advisers LLC purchased a new stake in Kellanova during the fourth quarter worth $2,490,000. Finally, Barclays PLC boosted its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,801,886 over the last three months. 1.80% of the stock is owned by insiders.

Kellanova Stock Performance

Kellanova stock opened at $82.43 on Tuesday. The firm has a market capitalization of $28.46 billion, a P/E ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.34. The stock has a fifty day moving average price of $82.39 and a 200 day moving average price of $81.61. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 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%. Equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

A number of research firms have commented on K. StockNews.com began coverage on Kellanova in a research report on Monday, April 21st. They set a “buy” rating on the stock. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Company 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.