Anson Funds Management LP Purchases 52,960 Shares of Kellanova (NYSE:K)

Anson Funds Management LP increased its stake in Kellanova (NYSE:K - Free Report) by 264.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,960 shares of the company's stock after purchasing an additional 52,960 shares during the period. Kellanova accounts for 0.6% of Anson Funds Management LP's portfolio, making the stock its 22nd largest position. Anson Funds Management LP's holdings in Kellanova were worth $5,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new position in Kellanova during the 4th quarter worth $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at $32,000. Flagship Wealth Advisors LLC bought a new position in Kellanova during the fourth quarter valued at about $32,000. Finally, First Horizon Advisors Inc. grew its holdings in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares of the company's stock, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,374,996 shares of company stock worth $113,261,858 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on K. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $79.41.

Kellanova Stock Performance

Kellanova stock traded up $0.04 during mid-day trading on Thursday, reaching $82.60. The company had a trading volume of 896,008 shares, compared to its average volume of 2,616,538. The company has a 50 day moving average of $82.39 and a 200-day moving average of $81.68. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 4.21 and a beta of 0.30.

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 analysts' consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

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.