Wedmont Private Capital Purchases New Position in Kellanova (NYSE:K)

Wedmont Private Capital purchased a new position in shares of Kellanova (NYSE:K - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,711 shares of the company's stock, valued at approximately $384,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC grew its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after purchasing an additional 137 shares during the period. Capital Advisors Ltd. LLC increased its position in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company's stock valued at $50,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Kellanova Stock Up 0.4 %

Shares of NYSE K traded up $0.31 during midday trading on Thursday, hitting $81.50. The company's stock had a trading volume of 2,888,300 shares, compared to its average volume of 2,239,530. The business's fifty day simple moving average is $80.92 and its two-hundred day simple moving average is $76.33. The firm has a market capitalization of $28.09 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.59.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business posted $1.03 earnings per share. Kellanova's revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that Kellanova will post 3.75 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova's payout ratio is 78.35%.

Analyst Ratings Changes

Several research firms have recently commented on K. StockNews.com began coverage on shares of Kellanova in a research report on Wednesday. They set a "hold" rating on the stock. BNP Paribas downgraded Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Finally, Argus cut Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $76.35.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on 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 transaction, the insider now owns 49,795,357 shares of the company's stock, valued at $4,031,432,102.72. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,509,236 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Kellanova 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.