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

Yakira Capital Management Inc. boosted its stake in shares of Kellanova (NYSE:K) by 318.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,250 shares of the company’s stock after buying an additional 72,500 shares during the quarter. Kellanova accounts for about 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new position in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 0.4 %

NYSE:K opened at $82.25 on Friday. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The stock has a market cap of $28.39 billion, a P/E ratio of 21.25, a P/E/G ratio of 4.21 and a beta of 0.34. 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 stock has a 50-day simple moving average of $82.31 and a 200-day simple moving average of $81.40.

Kellanova (NYSE:K) last announced its quarterly 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 net margin of 10.53% and a return on equity of 37.25%. As a group, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Analysts Set New Price Targets

A number of research firms have issued reports on K. StockNews.com initiated coverage on shares of Kellanova in a report on Saturday. They set a “hold” rating on the stock. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the transaction, the insider now owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 1,260,413 shares of company stock worth $103,473,032 over the last 90 days. Corporate 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.