Highbridge Capital Management LLC Has $30.15 Million Stake in Kellanova (NYSE:K)

Highbridge Capital Management LLC raised its position in Kellanova (NYSE:K - Free Report) by 42.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 372,370 shares of the company's stock after buying an additional 110,633 shares during the period. Highbridge Capital Management LLC owned about 0.11% of Kellanova worth $30,151,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in K. Stonebridge Financial Group LLC bought a new position in Kellanova in the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova in the fourth quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in Kellanova by 64.8% in 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. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the transaction, the insider now directly owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Company insiders own 1.80% of the company's stock.

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Analyst Upgrades and Downgrades

K has been the subject of several analyst reports. StockNews.com began coverage on Kellanova in a research report on Friday. They set a "hold" rating for the company. Royal Bank of Canada cut 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $77.96.

Kellanova Stock Down 0.0 %

NYSE K traded down $0.04 on Tuesday, reaching $82.46. The company had a trading volume of 1,013,221 shares, compared to its average volume of 2,667,539. The company's fifty day moving average is $82.25 and its 200-day moving average is $81.36. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 has a 1-year low of $55.01 and a 1-year high of $83.22.

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

Kellanova Announces Dividend

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

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.