One68 Global Capital LLC Invests $27.22 Million in Kellanova (NYSE:K)

One68 Global Capital LLC acquired a new stake in Kellanova (NYSE:K - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 336,129 shares of the company's stock, valued at approximately $27,216,000. Kellanova accounts for approximately 14.2% of One68 Global Capital LLC's portfolio, making the stock its biggest holding. One68 Global Capital LLC owned approximately 0.10% of Kellanova at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova in the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. lifted its position in Kellanova by 64.8% during 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 in the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on K shares. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Kellanova currently has a consensus rating of "Hold" and an average target price of $79.41.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $82.03, for a total value of $9,399,243.49. Following the completion of the sale, the insider now owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,260,413 shares of company stock worth $103,801,886 over the last 90 days. Company insiders own 1.80% of the company's stock.

Kellanova Price Performance

NYSE:K traded down $0.20 during trading hours on Monday, reaching $82.69. The stock had a trading volume of 815,689 shares, compared to its average volume of 2,683,443. The company has a 50 day moving average price of $82.40 and a two-hundred day moving average price of $81.66. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. 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 market capitalization of $28.54 billion, a PE ratio of 21.37, a PEG ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business earned $1.01 EPS. Kellanova's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio is currently 58.91%.

Kellanova Company 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.