Kellanova (NYSE:K) Stake Reduced by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its stake in Kellanova (NYSE:K) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,327 shares of the company’s stock after selling 303 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Kellanova were worth $521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baker Avenue Asset Management LP grew its holdings in Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares in the last quarter. Motco grew its stake in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after purchasing an additional 428 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in Kellanova in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $57.89, for a total value of $4,503,842.00. Following the completion of the transaction, the insider now directly owns 51,375,438 shares in the company, valued at $2,974,124,105.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 787,800 shares of company stock worth $46,428,250. Corporate insiders own 1.80% of the company’s stock.

Kellanova Price Performance

NYSE K opened at $57.48 on Monday. The company has a 50 day simple moving average of $59.55 and a 200-day simple moving average of $56.73. Kellanova has a 52-week low of $47.63 and a 52-week high of $68.69. The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.05 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. Equities research analysts predict that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Monday, June 3rd. Kellanova’s payout ratio is presently 83.90%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. DA Davidson boosted their target price on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Barclays increased their price target on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Finally, TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.83.

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.