Wealth Enhancement Advisory Services LLC Purchases 1,836 Shares of Kellanova $K

Wealth Enhancement Advisory Services LLC boosted its position in Kellanova (NYSE:K) by 9.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,685 shares of the company’s stock after buying an additional 1,836 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kellanova were worth $1,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust acquired a new position in Kellanova during the 1st quarter valued at about $25,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Kellanova in the 1st quarter worth approximately $25,000. MorganRosel Wealth Management LLC purchased a new position in shares of Kellanova in the 1st quarter worth approximately $27,000. EQ Wealth Advisors LLC purchased a new position in shares of Kellanova in the 1st quarter worth approximately $49,000. Finally, Dagco Inc. purchased a new position in shares of Kellanova in the 1st quarter worth approximately $49,000. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Up 5.1%

Shares of NYSE:K opened at $81.88 on Tuesday. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.22. The firm has a fifty day moving average of $79.46 and a 200 day moving average of $80.76. The firm has a market capitalization of $28.47 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 4.85 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s payout ratio is currently 60.89%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 802,097 shares of company stock worth $63,999,316 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

K has been the topic of a number of research analyst reports. Wall Street Zen downgraded Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. JPMorgan Chase & Co. began coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $83.38.

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.