Anson Funds Management LP bought a new stake in shares of Kellanova (NYSE:K – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $1,614,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Investors Research Corp raised its stake in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares during the period. Assetmark Inc. raised its position in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the period. MCF Advisors LLC raised its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the period. S.A. Mason LLC lifted its stake in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.
Insider Activity
In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
K has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Finally, Stifel Nicolaus lifted their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average price target of $76.35.
Kellanova Price Performance
Shares of Kellanova stock traded down $0.03 during trading on Friday, hitting $80.74. 1,187,405 shares of the company’s stock traded hands, compared to its average volume of 1,813,119. The company has a market cap of $27.83 billion, a PE ratio of 27.75, a PEG ratio of 2.58 and a beta of 0.38. The firm’s fifty day moving average price is $80.82 and its 200 day moving average price is $71.97. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.
Kellanova (NYSE:K – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that Kellanova will post 3.75 earnings per share for the current year.
Kellanova Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is presently 78.35%.
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.