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

Highbridge Capital Management LLC grew its stake in Kellanova (NYSE:K) by 42.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 372,370 shares of the company’s stock after purchasing an additional 110,633 shares during the quarter. Highbridge Capital Management LLC owned about 0.11% of Kellanova worth $30,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DnB Asset Management AS raised its position in shares of Kellanova by 9.1% in the 4th quarter. DnB Asset Management AS now owns 62,545 shares of the company’s stock valued at $5,064,000 after acquiring an additional 5,242 shares during the period. Pictet Asset Management Holding SA raised its holdings in Kellanova by 12.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 164,657 shares of the company’s stock worth $13,332,000 after purchasing an additional 18,045 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Kellanova by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 117,899 shares of the company’s stock worth $9,546,000 after purchasing an additional 592 shares in the last quarter. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter valued at $285,126,000. Finally, Caisse Des Depots ET Consignations acquired a new position in shares of Kellanova in the 4th quarter valued at $1,744,000. 83.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $82.31, for a total value of $9,431,326.73. Following the completion of the sale, the insider now owns 47,503,697 shares in the company, valued at $3,910,029,300.07. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 1,260,413 shares of company stock worth $103,290,845. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the topic of several recent analyst reports. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com started coverage on Kellanova in a research report on Friday. They set a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Trading Up 0.0 %

NYSE:K opened at $82.47 on Friday. The company has a market cap of $28.47 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The business has a 50 day moving average price of $82.22 and a two-hundred day moving average price of $81.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. As a group, analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is currently 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.