Boothbay Fund Management LLC Has $3.64 Million Holdings in Kellanova (NYSE:K)

Boothbay Fund Management LLC lessened its stake in shares of Kellanova (NYSE:K) by 12.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 44,963 shares of the company’s stock after selling 6,161 shares during the period. Boothbay Fund Management LLC’s holdings in Kellanova were worth $3,641,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC grew its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Bard Financial Services Inc. bought a new stake in Kellanova during the third quarter valued at about $272,000. Virtu Financial LLC acquired a new stake in shares of Kellanova in the third quarter valued at about $374,000. Wilmington Savings Fund Society FSB bought a new position in shares of Kellanova in the third quarter worth about $210,000. Finally, Peapack Gladstone Financial Corp lifted its position in shares of Kellanova by 0.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock worth $6,587,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on K. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research report on Monday, April 21st. They issued a “buy” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.96.

Kellanova Stock Down 0.2 %

Shares of K stock opened at $82.59 on Friday. Kellanova has a one year low of $55.96 and a one year high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a fifty day moving average price of $82.39 and a 200 day moving average price of $81.59. The stock has a market cap of $28.51 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. Analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s payout ratio is 58.91%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, February 10th. The stock was sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the completion of the transaction, the insider now directly owns 48,191,195 shares of the company’s stock, valued at approximately $3,962,761,964.85. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 1,260,413 shares of company stock worth $103,737,719. Company insiders own 1.80% of the company’s stock.

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.