Kellanova (NYSE:K) Shares Bought by Moore Capital Management LP

Moore Capital Management LP increased its holdings in shares of Kellanova (NYSE:K - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,000 shares of the company's stock after buying an additional 20,000 shares during the quarter. Moore Capital Management LP's holdings in Kellanova were worth $8,502,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $81.79, for a total value of $9,371,743.57. Following the sale, the insider now owns 46,701,616 shares of the company's stock, valued at $3,819,725,172.64. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,374,996 shares of company stock worth $113,211,441 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Up 0.4%

Shares of K traded up $0.31 during mid-day trading on Thursday, hitting $82.11. 6,833,159 shares of the company traded hands, compared to its average volume of 2,720,361. The company has a market capitalization of $28.49 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. 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 has a 50 day moving average of $82.37 and a 200 day moving average of $81.72. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22.

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. Equities research analysts anticipate that Kellanova will post 3.93 EPS for the current 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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.78%. Kellanova's payout ratio is currently 57.58%.

About Kellanova

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.