Kellanova (NYSE:K) Shares Acquired by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC boosted its position in shares of Kellanova (NYSE:K) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,340 shares of the company’s stock after purchasing an additional 478 shares during the period. Silverlake Wealth Management LLC’s holdings in Kellanova were worth $358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust acquired a new position in Kellanova during the 1st quarter worth $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the first quarter valued at approximately $27,000. Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova during the fourth quarter worth $32,000. Accredited Wealth Management LLC acquired a new position in Kellanova in the fourth quarter valued at $36,000. Finally, Twin Tree Management LP acquired a new position in shares of Kellanova during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred 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 transaction, the insider owned 45,899,535 shares in the company, valued at $3,657,274,948.80. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 1,374,996 shares of company stock valued at $111,795,196 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

K opened at $79.39 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22. The company has a 50 day moving average of $81.18 and a two-hundred day moving average of $81.74. The company has a market cap of $27.54 billion, a P/E ratio of 20.05, a P/E/G ratio of 4.22 and a beta of 0.28.

Kellanova (NYSE:K) last posted its quarterly 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 company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. On average, analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. Kellanova’s payout ratio is 57.58%.

Wall Street Analysts Forecast Growth

K has been the topic of several recent analyst reports. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Royal Bank Of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Citigroup upgraded shares of Kellanova to a “neutral” rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $79.75.

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.