Caxton Associates LP Has $20.86 Million Position in Kellanova (NYSE:K)

Caxton Associates LP increased its position in shares of Kellanova (NYSE:K - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257,561 shares of the company's stock after buying an additional 9,855 shares during the quarter. Kellanova accounts for 0.7% of Caxton Associates LP's portfolio, making the stock its 23rd biggest holding. Caxton Associates LP owned approximately 0.07% of Kellanova worth $20,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in K. Baird Financial Group Inc. boosted its position in shares of Kellanova by 3.0% during the 4th quarter. Baird Financial Group Inc. now owns 26,764 shares of the company's stock valued at $2,167,000 after acquiring an additional 777 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Kellanova by 43.1% in the 4th quarter. Bank of America Corp DE now owns 2,255,889 shares of the company's stock valued at $182,659,000 after purchasing an additional 679,754 shares during the period. Bardin Hill Management Partners LP grew its stake in shares of Kellanova by 23.1% in the 4th quarter. Bardin Hill Management Partners LP now owns 158,874 shares of the company's stock valued at $12,864,000 after purchasing an additional 29,821 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Kellanova by 4.6% in the 4th quarter. BNP Paribas Financial Markets now owns 633,756 shares of the company's stock worth $51,315,000 after buying an additional 27,847 shares in the last quarter. Finally, Angelo Gordon & CO. L.P. bought a new position in shares of Kellanova during the 4th quarter worth approximately $12,129,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $82.23, for a total value of $9,422,160.09. Following the transaction, the insider now directly owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,374,996 shares of company stock worth $113,261,858. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

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

Kellanova Stock Up 0.0 %

Shares of Kellanova stock traded up $0.01 during trading hours on Wednesday, reaching $82.55. 2,639,215 shares of the company's stock were exchanged, compared to its average volume of 2,682,327. 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 50 day moving average of $82.39 and a two-hundred day moving average of $81.68. The stock has a market cap of $28.50 billion, a P/E ratio of 21.33, a P/E/G ratio of 4.21 and a beta of 0.30. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly 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 company had revenue of $3.08 billion during 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 firm's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, sell-side analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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