Anson Funds Management LP Makes New Investment in Kellanova (NYSE:K)

Anson Funds Management LP purchased a new stake in shares of Kellanova (NYSE:K - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,000 shares of the company's stock, valued at approximately $1,614,000.

A number of other hedge funds have also bought and sold shares of the stock. CWM LLC increased its stake in shares of Kellanova by 24.3% in the second quarter. CWM LLC now owns 10,286 shares of the company's stock worth $593,000 after acquiring an additional 2,010 shares during the period. Czech National Bank increased its stake in shares of Kellanova by 8.1% in the second quarter. Czech National Bank now owns 50,165 shares of the company's stock worth $2,894,000 after acquiring an additional 3,760 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Kellanova by 8.7% in the second quarter. Sequoia Financial Advisors LLC now owns 10,600 shares of the company's stock worth $611,000 after acquiring an additional 849 shares during the period. Diversified Trust Co increased its stake in shares of Kellanova by 5.6% in the second quarter. Diversified Trust Co now owns 89,845 shares of the company's stock worth $5,182,000 after acquiring an additional 4,725 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of Kellanova by 5.2% in the second quarter. V Square Quantitative Management LLC now owns 7,703 shares of the company's stock worth $444,000 after acquiring an additional 382 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada downgraded shares of Kellanova from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus increased their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, August 12th. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They set a "neutral" rating and a $75.00 price objective on the stock. StockNews.com initiated coverage on shares of Kellanova in a report on Friday. They set a "hold" rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kellanova has a consensus rating of "Hold" and a consensus target price of $76.35.

Kellanova Trading Down 0.0 %

NYSE:K traded down $0.03 on Friday, reaching $80.74. The company's stock had a trading volume of 1,187,405 shares, compared to its average volume of 1,813,119. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.58 and a beta of 0.38. The stock has a 50 day moving average price of $80.82 and a 200 day moving average price of $72.04.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. On average, equities analysts anticipate that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova's dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares of the company's stock, valued at approximately $4,062,201,136.80. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,145,830 shares of company stock worth $92,516,606 in the last quarter. 1.80% of the stock is owned by company insiders.

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.