Kellanova (NYSE:K) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its position in Kellanova (NYSE:K) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,346 shares of the company’s stock after purchasing an additional 866 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Kellanova were worth $879,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Intech Investment Management LLC lifted its stake in shares of Kellanova by 10.1% in the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock worth $14,754,000 after acquiring an additional 24,124 shares during the period. Jump Financial LLC acquired a new stake in Kellanova in the fourth quarter worth approximately $8,178,000. International Assets Investment Management LLC boosted its stake in Kellanova by 133.4% during the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock valued at $3,404,000 after buying an additional 34,800 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Kellanova during the fourth quarter worth about $889,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Kellanova by 35.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after acquiring an additional 20,866 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of several recent research reports. DA Davidson lifted their price target on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Barclays boosted their target price on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. increased their price target on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, TD Cowen boosted their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average target price of $61.83.

Insider Transactions at Kellanova

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the sale, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now directly owns 51,219,838 shares of the company’s stock, valued at approximately $2,952,311,462.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 865,600 shares of company stock worth $50,941,428. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K opened at $56.72 on Tuesday. The stock has a fifty day moving average price of $59.71 and a 200 day moving average price of $56.86. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. Kellanova has a 1 year low of $47.63 and a 1 year high of $68.69. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.04 and a beta of 0.35.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.10 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts forecast that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.95%. Kellanova’s payout ratio is presently 83.90%.

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.