Kellanova (NYSE:K) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its holdings in shares of Kellanova (NYSE:K - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,300 shares of the company's stock after acquiring an additional 3,985 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.07% of Kellanova worth $19,781,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Investors Research Corp raised its stake in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company's stock worth $1,049,000 after acquiring an additional 125 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Kellanova by 26.2% during the third 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 increased its position in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares in the last quarter. S.A. Mason LLC lifted its holdings in shares of Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock valued at $160,000 after purchasing an additional 140 shares during the last quarter. Finally, Quent Capital LLC boosted its position in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the transaction, the insider now directly owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 1,145,830 shares of company stock worth $93,291,187. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

K has been the topic of several research analyst reports. StockNews.com initiated coverage on Kellanova in a research report on Sunday, February 16th. They set a "hold" rating on the stock. Royal Bank of Canada upgraded shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target for the company in a research report on Tuesday. Finally, BNP Paribas cut shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $77.96.

Kellanova Stock Performance

Shares of Kellanova stock traded up $0.18 on Friday, reaching $82.63. 2,683,975 shares of the stock were exchanged, compared to its average volume of 2,389,531. The firm has a market capitalization of $28.48 billion, a PE ratio of 21.35, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.72. The business has a fifty day moving average price of $81.51 and a two-hundred day moving average price of $80.64. 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 announced its quarterly earnings data 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 return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova's payout ratio is 58.91%.

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.