Wealthfront Advisers LLC Acquires 8,718 Shares of Kellanova (NYSE:K)

Wealthfront Advisers LLC increased its stake in Kellanova (NYSE:K - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,439 shares of the company's stock after purchasing an additional 8,718 shares during the quarter. Wealthfront Advisers LLC's holdings in Kellanova were worth $11,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in K. Sequoia Financial Advisors LLC lifted its position in shares of Kellanova by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company's stock valued at $860,000 after acquiring an additional 132 shares in the last quarter. OneAscent Financial Services LLC increased its position in shares of Kellanova by 4.7% in the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after acquiring an additional 149 shares in the last quarter. Legacy Advisors LLC raised its position in Kellanova by 7.1% in the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company's stock valued at $222,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC grew its position in Kellanova by 2.8% in the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock valued at $568,000 after acquiring an additional 186 shares in the last quarter. Finally, Humankind Investments LLC boosted its position in Kellanova by 3.9% in the 4th quarter. Humankind Investments LLC now owns 5,117 shares of the company's stock valued at $414,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen lowered Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $79.75.

Kellanova Trading Up 0.3%

Kellanova stock traded up $0.22 during midday trading on Thursday, reaching $79.97. The stock had a trading volume of 1,447,619 shares, compared to its average volume of 3,080,914. Kellanova has a twelve month low of $56.37 and a twelve month high of $83.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52. The firm has a market cap of $27.74 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 4.22 and a beta of 0.28. The firm's fifty day simple moving average is $80.81 and its two-hundred day simple moving average is $81.68.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, July 7th. The stock was sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the completion of the sale, the insider owned 45,899,535 shares of the company's stock, valued at approximately $3,657,274,948.80. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,374,996 shares of company stock worth $111,466,342. Insiders own 1.80% of the company's stock.

About Kellanova

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.