Kellanova (NYSE:K) Position Increased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP grew its holdings in shares of Kellanova (NYSE:K - Free Report) by 60.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,744 shares of the company's stock after buying an additional 78,297 shares during the period. ExodusPoint Capital Management LP owned 0.06% of Kellanova worth $16,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kellanova Trading Up 0.7 %

NYSE K traded up $0.56 during trading hours on Wednesday, hitting $82.25. 5,288,225 shares of the company's stock were exchanged, compared to its average volume of 2,726,660. The business's 50 day moving average is $82.32 and its 200-day moving average is $81.44. 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 12-month low of $55.01 and a 12-month high of $83.22. The firm has a market capitalization of $28.39 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

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Kellanova (NYSE:K - Get Free Report) last announced 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, analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed 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 of this dividend was Monday, March 3rd. Kellanova's payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on K shares. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research report on Saturday. They issued a "hold" rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of "Hold" and an average target price 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 firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the completion of the transaction, the insider now directly owns 48,420,361 shares of the company's stock, valued at $3,955,459,290.09. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,260,413 shares of company stock valued at $103,558,970 over the last three months. 1.80% of the stock is owned by company insiders.

Kellanova 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.