Angelo Gordon & CO. L.P. Makes New Investment in Kellanova (NYSE:K)

Angelo Gordon & CO. L.P. acquired a new stake in shares of Kellanova (NYSE:K - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 149,800 shares of the company's stock, valued at approximately $12,129,000. Kellanova makes up about 2.4% of Angelo Gordon & CO. L.P.'s holdings, making the stock its 15th largest position.

A number of other hedge funds also recently made changes to their positions in K. Vanguard Group Inc. lifted its position in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after acquiring an additional 281,137 shares in the last quarter. Geode Capital Management LLC raised its stake in Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares during the period. Pentwater Capital Management LP lifted its holdings in Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares in the last quarter. Invesco Ltd. boosted its stake in Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after purchasing an additional 111,396 shares during the period. Finally, Northern Trust Corp grew its holdings in Kellanova by 15.7% during the 4th quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after buying an additional 530,132 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $82.47, for a total transaction of $9,449,660.01. Following the completion of the transaction, the insider now owns 46,930,782 shares in the company, valued at $3,870,381,591.54. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 1,260,413 shares of company stock valued at $103,801,886. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

K has been the topic of several research analyst reports. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova presently has a consensus rating of "Hold" and a consensus target price of $77.96.

Kellanova Trading Down 0.2 %

Shares of NYSE K opened at $82.67 on Friday. The stock has a market capitalization of $28.54 billion, a P/E ratio of 21.36, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The business's 50 day moving average is $82.40 and its two-hundred day moving average is $81.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

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

Kellanova Dividend Announcement

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 issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio (DPR) is presently 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.

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