Kellanova (NYSE:K) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in Kellanova (NYSE:K - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 240,218 shares of the company's stock after selling 4,082 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.07% of Kellanova worth $19,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Kellanova during the fourth quarter worth $285,126,000. Franklin Resources Inc. increased its stake in Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock worth $208,826,000 after acquiring an additional 2,313,047 shares during the last quarter. FIL Ltd increased its stake in Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after acquiring an additional 1,006,100 shares during the last quarter. Finally, TIG Advisors LLC increased its stake in Kellanova by 76.5% during the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock worth $152,084,000 after acquiring an additional 813,901 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Performance

K stock traded down $0.18 during trading on Tuesday, hitting $79.50. The company had a trading volume of 3,840,761 shares, compared to its average volume of 3,029,220. The firm has a market cap of $27.58 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 4.23 and a beta of 0.28. Kellanova has a 1-year low of $56.10 and a 1-year high of $83.22. The firm has a 50-day moving average price of $80.92 and a 200-day moving average price of $81.71. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data 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). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the firm posted $1.01 EPS. Kellanova's revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $79.54, for a total transaction of $9,113,931.82. Following the sale, the insider owned 45,784,952 shares of the company's stock, valued at $3,641,735,082.08. The trade was a 0.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 1,374,996 shares of company stock worth $111,466,342. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

K has been the subject of several research analyst reports. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $79.75.

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.