Kellanova (NYSE:K) Short Interest Update

Kellanova (NYSE:K) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 6,820,000 shares, a growth of 28.0% from the December 15th total of 5,330,000 shares. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is presently 3.6 days. Approximately 2.3% of the shares of the stock are sold short.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the transaction, the insider now owns 49,795,357 shares in the company, valued at $4,031,432,102.72. The trade was a 0.23 % 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 1,031,247 shares of company stock worth $83,509,236 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kellanova

A number of hedge funds have recently bought and sold shares of K. CVA Family Office LLC grew its position in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares in the last quarter. MCF Advisors LLC boosted its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Mather Group LLC. grew its position in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Price Performance

Shares of NYSE K traded up $0.17 during midday trading on Friday, reaching $81.73. The company’s stock had a trading volume of 2,647,218 shares, compared to its average volume of 1,723,373. The company has a market cap of $28.17 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.49 and a beta of 0.37. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.79. 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 business’s 50 day moving average price is $80.95 and its two-hundred day moving average price is $76.41.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. On average, analysts forecast that Kellanova will post 3.75 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analysts Set New Price Targets

A number of research firms recently commented on K. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. StockNews.com began coverage on shares of Kellanova in a research note on Wednesday. They set a “hold” rating on the stock. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $76.35.

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.