Wealthfront Advisers LLC Cuts Position in Kellanova (NYSE:K)

Wealthfront Advisers LLC lessened its position in shares of Kellanova (NYSE:K) by 82.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,012 shares of the company’s stock after selling 87,885 shares during the quarter. Wealthfront Advisers LLC’s holdings in Kellanova were worth $1,539,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares during the period. Simmons Bank purchased a new position in shares of Kellanova in the 3rd quarter worth approximately $219,000. Kovack Advisors Inc. boosted its holdings in shares of Kellanova by 18.2% in the 3rd quarter. Kovack Advisors Inc. now owns 6,325 shares of the company’s stock worth $511,000 after purchasing an additional 975 shares during the period. ING Groep NV boosted its holdings in shares of Kellanova by 22.3% in the 3rd quarter. ING Groep NV now owns 107,100 shares of the company’s stock worth $8,644,000 after purchasing an additional 19,540 shares during the period. Finally, Impax Asset Management Group plc purchased a new position in shares of Kellanova in the 3rd quarter worth approximately $4,991,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Kellanova in a report on Wednesday. They set a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Down 0.1 %

Shares of NYSE K opened at $82.22 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business has a fifty day simple moving average of $82.05 and a two-hundred day simple moving average of $81.19. The firm has a market cap of $28.38 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $52.53 and a twelve month high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the completion of the transaction, the insider now directly owns 47,618,280 shares of the company’s stock, valued at approximately $3,917,079,712.80. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 1,260,413 shares of company stock valued at $103,099,492. Corporate insiders own 1.80% of the company’s stock.

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.