Kellanova $K Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its position in Kellanova (NYSE:K) by 19.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,826 shares of the company’s stock after purchasing an additional 617 shares during the quarter. Wedbush Securities Inc.’s holdings in Kellanova were worth $304,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in K. Alps Advisors Inc. acquired a new position in Kellanova during the 1st quarter worth about $360,000. Stephens Inc. AR boosted its stake in shares of Kellanova by 1.3% in the 1st quarter. Stephens Inc. AR now owns 18,715 shares of the company’s stock valued at $1,544,000 after buying an additional 236 shares during the period. CWM LLC grew its position in shares of Kellanova by 2.9% during the first quarter. CWM LLC now owns 13,777 shares of the company’s stock worth $1,136,000 after buying an additional 386 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Kellanova by 11.4% during the first quarter. Apollon Wealth Management LLC now owns 7,116 shares of the company’s stock worth $587,000 after buying an additional 728 shares during the period. Finally, Wealthfront Advisers LLC lifted its stake in Kellanova by 6.9% in the first quarter. Wealthfront Advisers LLC now owns 135,439 shares of the company’s stock worth $11,172,000 after acquiring an additional 8,718 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.1%

Shares of NYSE:K opened at $83.39 on Thursday. Kellanova has a one year low of $76.48 and a one year high of $83.45. The firm has a fifty day moving average price of $81.44 and a two-hundred day moving average price of $80.90. The company has a market cap of $29.01 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 5.16 and a beta of 0.23. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company earned $0.91 EPS. The company’s revenue was up .8% on a year-over-year basis. Analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s dividend payout ratio is presently 63.74%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the transaction, the insider directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on K. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.50.

About Kellanova

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.