Kellanova (NYSE:K) is Bardin Hill Management Partners LP's 2nd Largest Position

Bardin Hill Management Partners LP lifted its position in Kellanova (NYSE:K - Free Report) by 23.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 158,874 shares of the company's stock after purchasing an additional 29,821 shares during the period. Kellanova comprises approximately 6.1% of Bardin Hill Management Partners LP's portfolio, making the stock its 2nd biggest holding. Bardin Hill Management Partners LP's holdings in Kellanova were worth $12,864,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in K. BNP Paribas Financial Markets lifted its holdings in 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 during the period. Angelo Gordon & CO. L.P. bought a new position in shares of Kellanova during the fourth quarter valued at approximately $12,129,000. Aptus Capital Advisors LLC purchased a new stake in Kellanova in the fourth quarter worth $436,000. Anson Funds Management LP boosted its holdings in Kellanova by 264.8% in the fourth quarter. Anson Funds Management LP now owns 72,960 shares of the company's stock valued at $5,908,000 after acquiring an additional 52,960 shares in the last quarter. Finally, Absolute Gestao de Investimentos Ltda. purchased a new position in Kellanova during the 4th quarter valued at $11,741,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.1 %

Shares of NYSE K traded down $0.07 during trading on Tuesday, reaching $82.54. The company had a trading volume of 2,602,585 shares, compared to its average volume of 2,687,184. Kellanova has a 12-month low of $55.96 and a 12-month 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 business's 50-day moving average is $82.40 and its 200 day moving average is $81.68. The stock has a market cap of $28.49 billion, a PE ratio of 21.33, a P/E/G ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations 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 last year, the company posted $1.01 earnings per share. As a group, equities analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed 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 currently 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 Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the transaction, the insider now directly owns 48,076,612 shares of the company's stock, valued at $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 is available at the SEC website. In the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,801,886. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. 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.com, the company currently has an average rating of "Hold" and an average price target of $79.41.

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.