Nexpoint Asset Management L.P. Buys 9,790 Shares of Kellanova (NYSE:K)

Nexpoint Asset Management L.P. grew its stake in Kellanova (NYSE:K) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 345,330 shares of the company’s stock after acquiring an additional 9,790 shares during the quarter. Kellanova comprises approximately 3.1% of Nexpoint Asset Management L.P.’s investment portfolio, making the stock its 9th biggest position. Nexpoint Asset Management L.P.’s holdings in Kellanova were worth $27,961,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Barclays PLC boosted its holdings 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. Bard Financial Services Inc. acquired a new stake in Kellanova during the 3rd quarter worth $272,000. Virtu Financial LLC acquired a new position in Kellanova in the 3rd quarter valued at about $374,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kellanova during the third quarter worth approximately $210,000. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of Kellanova by 0.6% in the third quarter. Peapack Gladstone Financial Corp now owns 81,629 shares of the company’s stock valued at $6,587,000 after acquiring an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.2 %

K stock opened at $82.72 on Thursday. Kellanova has a 52-week low of $55.96 and a 52-week 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 market capitalization of $28.56 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The company has a 50-day moving average of $82.40 and a two-hundred day moving average of $81.62.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. As a group, equities research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on K shares. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a report on Monday, April 21st. They issued a “buy” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.96.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, February 14th. The shares were sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the transaction, the insider now directly owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,260,413 shares of company stock valued at $103,801,886 over the last three months. Company insiders own 1.80% of the company’s stock.

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.