Wedbush Securities Inc. Boosts Stock Holdings in Kellanova $K

Wedbush Securities Inc. raised its stake in shares of Kellanova (NYSE:K) by 19.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,826 shares of the company’s stock after acquiring an additional 617 shares during the quarter. Wedbush Securities Inc.’s holdings in Kellanova were worth $304,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC purchased a new position in Kellanova in the first quarter worth approximately $25,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Kellanova during the second quarter valued at about $45,000. Dagco Inc. acquired a new position in shares of Kellanova in the 1st quarter worth approximately $49,000. Cypress Capital Management LLC WY purchased a new position in shares of Kellanova during the 1st quarter worth approximately $54,000. Finally, Capital Advisors Ltd. LLC increased its holdings in Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock valued at $57,000 after purchasing an additional 177 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.1%

K stock opened at $83.39 on Thursday. The stock has a market capitalization of $29.01 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. The company has a fifty day moving average of $81.44 and a 200-day moving average of $80.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a one year low of $76.48 and a one year high of $83.45.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. As a group, analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st. Kellanova’s payout ratio is presently 63.74%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research note on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Finally, Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.50.

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.