Kellanova (NYSE:K) is GABELLI & Co INVESTMENT ADVISERS INC.'s 2nd Largest Position

GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Kellanova (NYSE:K - Free Report) by 25.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,293 shares of the company's stock after purchasing an additional 70,100 shares during the period. Kellanova makes up about 4.8% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 2nd largest position. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.10% of Kellanova worth $27,715,000 at the end of the most recent reporting period.

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

Kellanova Price Performance

Kellanova stock traded up $0.08 on Friday, reaching $82.37. The company's stock had a trading volume of 1,933,260 shares, compared to its average volume of 2,734,816. The business's fifty day moving average price is $82.35 and its 200 day moving average price is $81.51. The company has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a twelve month low of $55.96 and a twelve month high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

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

Kellanova Dividend Announcement

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

Analyst Upgrades and Downgrades

K has been the topic of several research analyst reports. StockNews.com started coverage on Kellanova in a research note on Sunday, April 13th. They set a "hold" rating on the stock. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Kellanova presently has an average rating of "Hold" and a consensus target price of $77.96.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the sale, the insider now directly owns 48,305,778 shares of the company's stock, valued at approximately $3,956,726,275.98. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 1,260,413 shares of company stock valued at $103,672,407 over the last three months. Insiders own 1.80% of the company's stock.

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.