Silverlake Wealth Management LLC Cuts Position in Kellanova (NYSE:K)

Silverlake Wealth Management LLC reduced its holdings in shares of Kellanova (NYSE:K) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,681 shares of the company’s stock after selling 207 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Kellanova were worth $211,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Baker Avenue Asset Management LP grew its stake in shares of Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. Motco increased its holdings in Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its position in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Kellanova by 139.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after purchasing an additional 428 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in shares of Kellanova during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on 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 of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the sale, the insider now owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,600 shares of company stock worth $50,941,428. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.0 %

K stock opened at $56.71 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a market capitalization of $19.39 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.04 and a beta of 0.35. Kellanova has a 52-week low of $47.63 and a 52-week high of $68.69. The company’s 50 day simple moving average is $59.69 and its 200-day simple moving average is $56.87.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. As a group, equities research analysts anticipate that Kellanova will post 3.62 EPS for the current year.

Kellanova Announces Dividend

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