High Note Wealth LLC Has $641,000 Stake in Kellanova $K

High Note Wealth LLC decreased its position in Kellanova (NYSE:K) by 2.2% during the 2nd quarter, Holdings Channel reports. The firm owned 8,065 shares of the company’s stock after selling 185 shares during the quarter. High Note Wealth LLC’s holdings in Kellanova were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its holdings in shares of Kellanova by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock worth $526,000 after acquiring an additional 123 shares during the period. Independent Advisor Alliance grew its position in shares of Kellanova by 1.8% in the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after purchasing an additional 131 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Kellanova by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after acquiring an additional 132 shares during the period. Cigna Investments Inc. New lifted its position in Kellanova by 5.3% during the second quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock worth $222,000 after purchasing an additional 141 shares during the period. Finally, Legacy Advisors LLC grew its position in Kellanova by 7.1% in the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company’s stock valued at $222,000 after acquiring an additional 179 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on K shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Kellanova in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, JPMorgan Chase & Co. started coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target on the stock. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.38.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 687,514 shares of company stock worth $54,869,342. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $82.67 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.22. The firm has a market capitalization of $28.74 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 5.15 and a beta of 0.24. The company has a fifty day simple moving average of $79.72 and a two-hundred day simple moving average of $80.76.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. This is an increase from Kellanova’s previous quarterly dividend of $0.57. Kellanova’s dividend payout ratio is 60.89%.

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.