Anson Funds Management LP Buys Shares of 20,000 Kellanova (NYSE:K)

Anson Funds Management LP purchased a new position in shares of Kellanova (NYSE:K) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $1,614,000.

Several other hedge funds have also recently modified their holdings of K. Investors Research Corp boosted its holdings in Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares in the last quarter. S.A. Mason LLC raised its position in Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 1,145,830 shares of company stock worth $92,516,606. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.0 %

Shares of NYSE:K opened at $80.74 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $27.83 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.58 and a beta of 0.38. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.34. The stock’s fifty day simple moving average is $80.82 and its 200-day simple moving average is $71.97.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities research analysts forecast that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s payout ratio is currently 78.35%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on K shares. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a research report on Friday. They set a “hold” rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.35.

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.