Wealth Enhancement Advisory Services LLC Purchases 3,665 Shares of Kellanova (NYSE:K)

Wealth Enhancement Advisory Services LLC boosted its position in Kellanova (NYSE:K - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,849 shares of the company's stock after purchasing an additional 3,665 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Kellanova were worth $1,637,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in K. Norges Bank bought a new position in Kellanova in the fourth quarter worth $285,126,000. Franklin Resources Inc. increased its holdings in shares of Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after acquiring an additional 2,313,047 shares in the last quarter. FIL Ltd increased its holdings in shares of Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after acquiring an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock valued at $141,356,000 after acquiring an additional 1,006,100 shares in the last quarter. Finally, TIG Advisors LLC increased its holdings in shares of Kellanova by 76.5% during the fourth quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock valued at $152,084,000 after acquiring an additional 813,901 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

K has been the subject of several analyst reports. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Finally, Royal Bank Of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $79.75.

Kellanova Trading Up 0.3%

Shares of NYSE:K opened at $79.08 on Monday. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 4.14 and a beta of 0.30. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The stock's 50-day simple moving average is $81.57 and its two-hundred day simple moving average is $81.79. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the business posted $1.01 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.88%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 47,159,948 shares of the company's stock, valued at approximately $3,886,451,314.68. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $102,970,013 in the last quarter. 1.80% of the stock is owned by company 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.

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