FNY Investment Advisers LLC Purchases Shares of 30,760 Kellanova (NYSE:K)

FNY Investment Advisers LLC acquired a new position in Kellanova (NYSE:K - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,760 shares of the company's stock, valued at approximately $2,490,000. Kellanova comprises approximately 1.3% of FNY Investment Advisers LLC's holdings, making the stock its 18th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Investors Research Corp lifted its position in shares of Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company's stock worth $1,049,000 after buying an additional 125 shares during the last quarter. Assetmark Inc. lifted its holdings in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC lifted its holdings in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares during the last quarter. S.A. Mason LLC boosted its position in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock worth $160,000 after purchasing an additional 140 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in 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 purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Down 0.1 %

Shares of NYSE K traded down $0.11 during midday trading on Tuesday, reaching $81.40. 2,302,142 shares of the stock were exchanged, compared to its average volume of 2,048,818. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.58. The company has a market capitalization of $28.06 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.59 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The business has a 50-day simple moving average of $80.92 and a two-hundred day simple moving average of $76.17.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the business posted $1.03 EPS. Kellanova's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova's payout ratio is presently 78.35%.

Analyst Upgrades and Downgrades

K has been the subject of several recent analyst reports. StockNews.com assumed coverage on Kellanova in a research note on Tuesday, January 7th. They set a "hold" rating for the company. BNP Paribas lowered shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Finally, Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen equities 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.com, the company presently has a consensus rating of "Hold" and a consensus target price of $76.35.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the completion of the transaction, the insider now owns 49,795,357 shares in the company, valued at $4,031,432,102.72. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 1,031,247 shares of company stock valued at $83,509,236. 1.80% of the stock is owned by 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.