Kellanova (NYSE:K) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in Kellanova (NYSE:K) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,919 shares of the company’s stock after purchasing an additional 1,249 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Kellanova were worth $1,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Kellanova by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after acquiring an additional 277,171 shares during the last quarter. Yacktman Asset Management LP lifted its position in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after acquiring an additional 10,510 shares in the last quarter. D. E. Shaw & Co. Inc. boosted 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 last quarter. Maverick Capital Ltd. purchased a new stake in shares of Kellanova during the second quarter worth about $88,065,000. Finally, TD Asset Management Inc raised its holdings in Kellanova by 3.0% in the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after acquiring an additional 40,406 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a research note on Monday. They issued a “hold” rating on the stock. Finally, Bank of America raised 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. Sixteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $74.96.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the sale, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, October 28th. The shares were sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,227,864 shares of company stock worth $98,438,243 over the last three months. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $80.60 on Tuesday. The stock has a market capitalization of $27.78 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a 50-day simple moving average of $80.63 and a 200 day simple moving average of $68.53. Kellanova has a 12-month low of $50.81 and a 12-month high of $81.26.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. On average, research analysts anticipate that Kellanova will post 3.71 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is currently 78.35%.

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.