Kellanova (NYSE:K) Position Lessened by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC cut its stake in Kellanova (NYSE:K) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,156 shares of the company’s stock after selling 182 shares during the period. Silverlake Wealth Management LLC’s holdings in Kellanova were worth $335,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of K. D. E. Shaw & Co. Inc. grew its holdings in Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Kellanova during the 2nd quarter worth about $88,065,000. Vanguard Group Inc. raised its holdings in Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Kellanova during the 2nd quarter valued at $63,585,000. Finally, Boston Partners grew its holdings in Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock worth $73,221,000 after acquiring an additional 689,395 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on K. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their price target on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Fifteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.32.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $57.67, for a total value of $4,486,726.00. Following the completion of the transaction, the insider now directly owns 50,986,438 shares in the company, valued at approximately $2,940,387,879.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the completion of the transaction, the insider now directly owns 50,986,438 shares of the company’s stock, valued at $2,940,387,879.46. This 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 the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,117,515 shares of company stock valued at $83,979,855 in the last 90 days. 1.80% of the stock is owned by insiders.

Kellanova Trading Up 0.0 %

Shares of K opened at $80.55 on Friday. The stock has a fifty day moving average price of $79.23 and a two-hundred day moving average price of $65.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a 52-week low of $47.63 and a 52-week high of $81.00. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Analysts predict that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is 85.39%.

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.