Wesbanco Bank Inc. Sells 2,003 Shares of Kellanova (NYSE:K)

Wesbanco Bank Inc. lowered its position in shares of Kellanova (NYSE:K) by 28.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,075 shares of the company’s stock after selling 2,003 shares during the quarter. Wesbanco Bank Inc.’s holdings in Kellanova were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of K. Vanguard Group Inc. increased its position in shares of Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after purchasing an additional 277,171 shares during the last quarter. Yacktman Asset Management LP increased its position in shares of Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after purchasing an additional 10,510 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after purchasing an additional 1,664,461 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in shares of Kellanova in the 2nd quarter worth about $88,065,000. Institutional investors own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the transaction, the insider now owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,154,298 shares of company stock valued at $88,847,101. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group began coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.32.

Kellanova Stock Performance

NYSE K opened at $81.06 on Thursday. The company’s 50 day simple moving average is $79.89 and its two-hundred day simple moving average is $66.31. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a 1 year low of $49.28 and a 1 year high of $81.21. The stock has a market capitalization of $27.71 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Analysts predict that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is 85.39%.

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.