Magnetar Financial LLC Sells 14,408 Shares of Kellanova $K

Magnetar Financial LLC reduced its stake in shares of Kellanova (NYSE:K) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,116,749 shares of the company’s stock after selling 14,408 shares during the quarter. Kellanova comprises about 0.4% of Magnetar Financial LLC’s holdings, making the stock its 7th largest position. Magnetar Financial LLC’s holdings in Kellanova were worth $88,815,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Financial Network Wealth Advisors LLC bought a new position in Kellanova in the 1st quarter valued at $25,000. Trust Co. of Toledo NA OH acquired a new position in shares of Kellanova during the second quarter valued at $45,000. Dagco Inc. bought a new position in Kellanova in the first quarter valued at about $49,000. Capital Advisors Ltd. LLC boosted its holdings in Kellanova by 32.7% in the second quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after acquiring an additional 177 shares during the last quarter. Finally, ST Germain D J Co. Inc. increased its position in Kellanova by 114.3% in the second quarter. ST Germain D J Co. Inc. now owns 750 shares of the company’s stock worth $60,000 after purchasing an additional 400 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Shares of K opened at $83.40 on Friday. The stock has a market cap of $29.02 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.47. The stock’s 50-day moving average price is $81.90 and its two-hundred day moving average price is $80.94. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the company posted $0.91 EPS. Kellanova’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s dividend payout ratio (DPR) is currently 63.74%.

Analyst Upgrades and Downgrades

K has been the topic of a number of research reports. JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $83.50.

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.