Gardner Lewis Asset Management L P Makes New Investment in Kellanova (NYSE:K)

Gardner Lewis Asset Management L P acquired a new stake in Kellanova (NYSE:K) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,962 shares of the company’s stock, valued at approximately $888,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Advisor Alliance raised its stake in Kellanova by 16.5% during the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after acquiring an additional 1,019 shares in the last quarter. Toronto Dominion Bank increased its position in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Kellanova in the fourth quarter worth about $384,000. Barclays PLC lifted its position in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its holdings in shares of Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after purchasing an additional 296,150 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com initiated coverage on Kellanova in a report on Friday. They set a “hold” rating on the stock. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.96.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 1,260,413 shares of company stock valued at $103,290,845. 1.80% of the stock is owned by insiders.

Kellanova Trading Up 0.0 %

Shares of NYSE K opened at $82.47 on Friday. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.47 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31. The company’s fifty day moving average is $82.22 and its 200-day moving average is $81.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is 58.91%.

Kellanova Company 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.