Wedbush Securities Inc. Makes New $261,000 Investment in Kellanova (NYSE:K)

Wedbush Securities Inc. acquired a new stake in Kellanova (NYSE:K - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,226 shares of the company's stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in Kellanova in the 4th quarter valued at about $27,000. BankPlus Trust Department bought a new stake in shares of Kellanova in the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at about $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. increased its holdings in Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note on Sunday. They set a "hold" rating on the stock. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of "Hold" and an average target price of $77.96.

Remove Ads

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $82.41, for a total value of $9,442,785.03. Following the sale, the insider now directly owns 47,159,948 shares in the company, valued at $3,886,451,314.68. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 1,260,413 shares of company stock worth $103,672,407. Company insiders own 1.80% of the company's stock.

Kellanova Stock Down 0.1 %

Shares of NYSE:K traded down $0.11 during midday trading on Tuesday, hitting $82.35. 507,128 shares of the stock were exchanged, compared to its average volume of 2,722,270. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market capitalization of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. The business's fifty day simple moving average is $82.35 and its two-hundred day simple moving average is $81.48. Kellanova has a 52-week low of $55.01 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's payout ratio is 58.91%.

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.