Kornitzer Capital Management Inc. KS Has $19.40 Million Stock Holdings in Kellanova (NYSE:K)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Kellanova (NYSE:K) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240,315 shares of the company’s stock after selling 1,338 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.07% of Kellanova worth $19,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Kellanova by 11.8% in the 2nd 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. Yacktman Asset Management LP lifted its position in shares of Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after purchasing an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new position in Kellanova in the 2nd quarter worth approximately $88,065,000. Finally, TD Asset Management Inc lifted its holdings in shares of Kellanova by 3.0% during the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock worth $80,244,000 after buying an additional 40,406 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.1 %

K traded up $0.08 on Thursday, hitting $81.02. 74,876 shares of the company were exchanged, compared to its average volume of 3,060,786. The stock’s fifty day moving average is $80.64 and its 200-day moving average is $68.87. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market cap of $27.93 billion, a PE ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is presently 78.35%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,150,064 shares of company stock valued at $92,680,265. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on K. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. StockNews.com initiated coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating on the stock. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler raised their price target on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Sixteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $74.96.

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.