Gardner Lewis Asset Management L P Takes $888,000 Position in Kellanova (NYSE:K)

Gardner Lewis Asset Management L P bought a new position in shares of Kellanova (NYSE:K) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,962 shares of the company’s stock, valued at approximately $888,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new stake in Kellanova during the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova in the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the 4th 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 valued at $36,000 after acquiring an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on K. StockNews.com started coverage on shares of Kellanova in a report on Friday. They set a “hold” rating on the stock. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research note 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Up 0.0 %

Shares of K stock opened at $82.47 on Friday. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The company has a market cap of $28.47 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $82.22 and its two-hundred day moving average is $81.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) 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%. Equities analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is presently 58.91%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the transaction, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 1,260,413 shares of company stock worth $103,290,845 in the last 90 days. 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.