Hennion & Walsh Asset Management Inc. Raises Position in Kellanova (NYSE:K)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Kellanova (NYSE:K) by 27.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,909 shares of the company’s stock after buying an additional 5,331 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Kellanova were worth $2,010,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in K. Toth Financial Advisory Corp boosted its position in Kellanova by 15.6% during the first quarter. Toth Financial Advisory Corp now owns 20,693 shares of the company’s stock worth $1,186,000 after acquiring an additional 2,799 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Kellanova by 61.3% during the 1st quarter. Diversified Trust Co now owns 85,120 shares of the company’s stock worth $4,877,000 after purchasing an additional 32,361 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Kellanova in the first quarter valued at approximately $395,000. North Star Investment Management Corp. increased its holdings in shares of Kellanova by 3.3% in the first quarter. North Star Investment Management Corp. now owns 16,941 shares of the company’s stock valued at $971,000 after purchasing an additional 546 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Kellanova by 23.3% during the first quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the company’s stock worth $559,000 after buying an additional 1,841 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $80.88 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The company has a market cap of $27.88 billion, a P/E ratio of 30.64, a P/E/G ratio of 2.60 and a beta of 0.39. The stock has a 50-day moving average of $80.60 and a two-hundred day moving average of $67.25. Kellanova has a 1-year low of $49.79 and a 1-year high of $81.26.

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

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 86.36%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI upgraded Kellanova to a “hold” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. StockNews.com began coverage on shares of Kellanova in a report on Saturday, October 19th. They issued a “hold” rating 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 research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped 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. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.32.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the transaction, the insider now owns 50,830,838 shares in the company, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now directly owns 49,795,357 shares of the company’s stock, valued at $4,031,432,102.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,191,081 shares of company stock valued at $93,637,014 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.