Decagon Asset Management LLP Makes New $10.13 Million Investment in Kellanova (NYSE:K)

Decagon Asset Management LLP bought a new stake in Kellanova (NYSE:K - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 125,042 shares of the company's stock, valued at approximately $10,125,000. Kellanova makes up 3.7% of Decagon Asset Management LLP's investment portfolio, making the stock its 8th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of K. Investors Research Corp lifted its stake in Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company's stock valued at $1,049,000 after buying an additional 125 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock valued at $1,870,000 after acquiring an additional 130 shares during the period. Assetmark Inc. boosted its holdings in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after acquiring an additional 131 shares during the period. Quent Capital LLC boosted its holdings in shares of Kellanova by 20.2% during the fourth quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after acquiring an additional 140 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock valued at $690,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

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Kellanova Price Performance

K stock traded up $0.07 during trading on Friday, hitting $82.40. The company had a trading volume of 3,087,145 shares, compared to its average volume of 2,547,378. The firm has a market capitalization of $28.44 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. The business has a 50 day moving average of $82.14 and a 200 day moving average of $81.26. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's payout ratio is 58.91%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on K shares. StockNews.com started coverage on shares of Kellanova in a report on Thursday. They set a "hold" rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen equities research 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, Kellanova has a consensus rating of "Hold" and a consensus price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 1,374,996 shares of company stock valued at $112,530,818. 1.80% of the stock is owned by insiders.

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.