FNY Investment Advisers LLC Acquires Shares of 30,760 Kellanova (NYSE:K)

FNY Investment Advisers LLC bought a new position in shares of Kellanova (NYSE:K) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,760 shares of the company’s stock, valued at approximately $2,490,000. Kellanova accounts for about 1.3% of FNY Investment Advisers LLC’s holdings, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its position in Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kellanova by 3.0% in the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after acquiring an additional 196,564 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Finally, Barclays PLC lifted its position in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 916,664 shares of company stock worth $74,179,888. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, StockNews.com initiated coverage on Kellanova in a report on Tuesday, January 7th. They issued a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

NYSE:K opened at $81.39 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $28.05 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The firm has a 50-day moving average price of $80.91 and a two-hundred day moving average price of $76.00. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $1.03 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, research analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

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.