03:58 PM EDT, 05/02/2024 (MT Newswires) -- (Adds Kellanova's comment, TOMS Capital not responding to request for comment, and stock move in third to fifth paragraphs)

A "significant" stake in Kellanova ( K ) is now held by investment firm TOMS Capital Investment Management, Reuters reported Thursday, citing two people familiar with the matter.

TOMS Capital is engaging with Kellanova ( K ), though it is unclear what they are discussing, the report said.

"We don't comment on rumors and would never disclose our private conversations with investors," a Kellanova ( K ) spokesperson said in a statement to MT Newswires.

TOMS Capital did not immediately reply to a request for comment.

Kellanova ( K ) shares were nearly 8% higher in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 61.10, Change: +4.12, Percent Change: +7.22