Wealthfront Advisers LLC Sells 87,885 Shares of Kellanova (NYSE:K)

Wealthfront Advisers LLC lowered its stake in Kellanova (NYSE:K) by 82.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,012 shares of the company’s stock after selling 87,885 shares during the quarter. Wealthfront Advisers LLC’s holdings in Kellanova were worth $1,539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new position in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in shares of Kellanova during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova during the fourth quarter valued at approximately $32,000. First Horizon Advisors Inc. raised its holdings in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new position in shares of Kellanova during the fourth quarter valued at approximately $43,000. Institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

K has been the subject of a number of research reports. StockNews.com initiated coverage on Kellanova in a report on Wednesday. They issued a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Stock Down 0.1 %

K stock opened at $82.22 on Friday. Kellanova has a fifty-two week low of $52.53 and a fifty-two week high of $83.22. The business’s 50-day moving average is $82.05 and its two-hundred day moving average is $81.19. 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 cap of $28.38 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its earnings results 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, analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock valued at $103,099,492 over the last quarter. 1.80% of the stock is currently owned by company insiders.

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.