Kellanova (NYSE:K) Shares Bought by Nexpoint Asset Management L.P.

Nexpoint Asset Management L.P. lifted its stake in shares of Kellanova (NYSE:K - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 345,330 shares of the company's stock after purchasing an additional 9,790 shares during the quarter. Kellanova comprises about 3.1% of Nexpoint Asset Management L.P.'s investment portfolio, making the stock its 9th largest position. Nexpoint Asset Management L.P. owned approximately 0.10% of Kellanova worth $27,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC increased its holdings in Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after acquiring an additional 140 shares in the last quarter. OneAscent Financial Services LLC raised its position in Kellanova by 4.7% during the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after acquiring an additional 149 shares during the last quarter. SPC Financial Inc. lifted its holdings in shares of Kellanova by 5.7% in the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company's stock valued at $241,000 after purchasing an additional 160 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of Kellanova by 0.7% in the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock valued at $1,820,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on K. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $79.41.

Kellanova Trading Down 0.2 %

Shares of K stock traded down $0.13 during trading hours on Friday, hitting $82.67. 3,879,006 shares of the company were exchanged, compared to its average volume of 2,690,849. The firm has a fifty day moving average of $82.40 and a 200 day moving average of $81.65. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The firm has a market cap of $28.54 billion, a PE ratio of 21.36, a PEG ratio of 4.21 and a beta of 0.34.

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). Kellanova had a return on equity of 37.25% and a net margin of 10.53%. The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the business earned $1.01 EPS. The business's revenue for the quarter was down 3.7% on a year-over-year basis. Analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's dividend payout ratio is presently 58.91%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the transaction, the insider now directly owns 48,076,612 shares of the company's stock, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock worth $103,801,886 in the last three months. 1.80% of the stock is currently owned by company insiders.

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.