Pentwater Capital Management LP Has $465.98 Million Position in Kellanova (NYSE:K)

Pentwater Capital Management LP raised its stake in shares of Kellanova (NYSE:K) by 8.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,755,000 shares of the company’s stock after purchasing an additional 450,700 shares during the quarter. Kellanova accounts for 5.1% of Pentwater Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Pentwater Capital Management LP’s holdings in Kellanova were worth $465,982,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of K. Stonebridge Financial Group LLC bought a new position in shares of Kellanova in the 4th quarter worth about $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors.

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, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares in the company, valued at $3,877,929,777.93. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock worth $103,801,886 in the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova Stock Down 0.2 %

K stock opened at $82.43 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG 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 moving average of $82.39 and a 200-day moving average of $81.61.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

K has been the subject of several research reports. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research note on Monday, April 21st. They set a “buy” rating for the company. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $77.96.

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.