B. Riley Wealth Advisors Inc. Has $566,000 Stake in Kellanova (NYSE:K)

B. Riley Wealth Advisors Inc. boosted its position in Kellanova (NYSE:K) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,810 shares of the company’s stock after buying an additional 180 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Kellanova were worth $566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in Kellanova in the 2nd quarter worth approximately $29,000. BNP Paribas purchased a new stake in Kellanova in the 1st quarter worth approximately $30,000. Ridgewood Investments LLC purchased a new stake in Kellanova in the 2nd quarter worth approximately $39,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Kellanova in the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Price Performance

K stock opened at $80.61 on Friday. Kellanova has a 52 week low of $47.63 and a 52 week high of $81.00. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a fifty day simple moving average of $77.02 and a two-hundred day simple moving average of $64.87. The firm has a market capitalization of $27.56 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 earnings per share. Analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on K shares. Evercore ISI raised shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus target price of $74.32.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total value of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares of the company’s stock, valued at $4,047,228,636.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares of the company’s stock, valued at approximately $4,047,228,636.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $56.14, for a total transaction of $4,367,692.00. Following the transaction, the insider now directly owns 51,142,038 shares in the company, valued at $2,871,114,013.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,080,732 shares of company stock valued at $79,115,595 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.