B. Riley Wealth Advisors Inc. Sells 4,528 Shares of Kellanova (NYSE:K)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Kellanova (NYSE:K) by 46.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,282 shares of the company’s stock after selling 4,528 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Kellanova were worth $426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB raised its position in shares of Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares during the last quarter. Toronto Dominion Bank raised its holdings in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares during the period. Barclays PLC boosted its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kellanova during the third quarter worth $4,211,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on K shares. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com initiated coverage on Kellanova in a report on Saturday, December 14th. They issued a “hold” rating for the company. Finally, DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $76.35.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares of the company’s stock, valued at $4,047,228,636.32. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 1,031,247 shares of company stock valued at $83,327,049. 1.80% of the stock is owned by insiders.

Kellanova Stock Performance

K opened at $80.34 on Friday. The company has a market cap of $27.69 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.59 and a beta of 0.38. The company’s fifty day moving average price is $80.81 and its two-hundred day moving average price is $73.23. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.34. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. On average, analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.84%. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

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.