Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Kellanova (NYSE:K)

Wealth Enhancement Advisory Services LLC lifted its position in Kellanova (NYSE:K) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,227 shares of the company’s stock after buying an additional 308 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Kellanova were worth $1,229,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC grew its stake in shares of 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 grew its stake in Kellanova by 48.8% during 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. increased its holdings in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC raised its position in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after purchasing an additional 158 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

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

Kellanova Price Performance

Shares of NYSE:K opened at $81.24 on Thursday. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.58. The firm has a market capitalization of $28.00 billion, a P/E ratio of 27.92, a P/E/G ratio of 2.59 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company’s fifty day moving average price is $80.92 and its 200 day moving average price is $76.17.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business 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 in the previous year, the business earned $1.03 EPS. As a group, sell-side analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 1,031,247 shares of company stock worth $83,509,236. 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.