Kellanova (NYSE:K) Shares Acquired by Anson Funds Management LP

Anson Funds Management LP lifted its position in Kellanova (NYSE:K - Free Report) by 264.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,960 shares of the company's stock after acquiring an additional 52,960 shares during the period. Kellanova accounts for about 0.6% of Anson Funds Management LP's investment portfolio, making the stock its 22nd largest holding. Anson Funds Management LP's holdings in Kellanova were worth $5,908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in Kellanova during the fourth quarter valued at $27,000. BankPlus Trust Department bought a new position in Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. raised its holdings in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the completion of the sale, the insider now directly owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,374,996 shares of company stock worth $113,261,858. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on K shares. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $79.41.

Kellanova Stock Up 0.0 %

Shares of NYSE:K traded up $0.01 during trading on Wednesday, reaching $82.55. The stock had a trading volume of 2,639,215 shares, compared to its average volume of 2,686,992. Kellanova has a one year low of $55.96 and a one year high of $83.22. The firm's 50-day simple moving average is $82.40 and its 200 day simple moving average is $81.68. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.50 billion, a P/E ratio of 21.33, a PEG ratio of 4.21 and a beta of 0.30.

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

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova's payout ratio is 57.58%.

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.