Hennion & Walsh Asset Management Inc. Raises Holdings in Kellanova (NYSE:K)

Hennion & Walsh Asset Management Inc. boosted its stake in Kellanova (NYSE:K) by 20.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,078 shares of the company’s stock after buying an additional 5,169 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Kellanova were worth $2,435,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Investors Research Corp raised its holdings in shares of Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares during the last quarter. Assetmark Inc. raised its stake in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the last quarter. MCF Advisors LLC lifted its holdings in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. S.A. Mason LLC boosted its stake in shares of Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after purchasing an additional 140 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total transaction of $9,329,347.86. Following the transaction, the insider now directly owns 48,534,944 shares of the company’s stock, valued at approximately $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,031,247 shares of company stock worth $83,509,236. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Up 0.2 %

NYSE K opened at $81.73 on Friday. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.49 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a one year low of $52.46 and a one year high of $81.79. The company’s 50 day moving average price is $80.94 and its 200 day moving average price is $76.37.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts predict that Kellanova will post 3.75 EPS for the current year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com started coverage on shares of Kellanova in a research note on Wednesday. They set a “hold” rating on the stock. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $76.35.

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.