4,711 Shares in Kellanova (NYSE:K) Purchased by Wedmont Private Capital

Wedmont Private Capital purchased a new stake in shares of Kellanova (NYSE:K) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,711 shares of the company’s stock, valued at approximately $384,000.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Kellanova by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 36,893 shares of the company’s stock valued at $2,128,000 after buying an additional 4,737 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Kellanova by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 211,081 shares of the company’s stock valued at $12,175,000 after acquiring an additional 4,566 shares during the period. Dimensional Fund Advisors LP raised its position in Kellanova by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Kellanova by 15.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company’s stock worth $2,669,000 after purchasing an additional 6,252 shares during the period. Finally, Waterloo Capital L.P. acquired a new stake in Kellanova during the second quarter valued at approximately $1,651,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Finally, StockNews.com started coverage on shares of Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Stock Performance

K stock opened at $81.24 on Thursday. The company has a 50 day moving average price of $80.92 and a 200 day moving average price of $76.17. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.58. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market capitalization of $28.00 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is 78.35%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’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 transaction, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,031,247 shares of company stock valued at $83,509,236 over the last ninety days. Insiders own 1.80% of the company’s stock.

Kellanova 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.