Wealthfront Advisers LLC Has $11.17 Million Stake in Kellanova (NYSE:K)

Wealthfront Advisers LLC raised its stake in Kellanova (NYSE:K) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,439 shares of the company’s stock after buying an additional 8,718 shares during the quarter. Wealthfront Advisers LLC’s holdings in Kellanova were worth $11,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Counselors Inc. acquired a new position in Kellanova in the first quarter valued at about $522,000. Aviva PLC raised its position in shares of Kellanova by 2.6% during the fourth quarter. Aviva PLC now owns 542,709 shares of the company’s stock worth $43,943,000 after purchasing an additional 13,531 shares during the period. IFM Investors Pty Ltd raised its position in shares of Kellanova by 11.6% during the first quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock worth $4,620,000 after purchasing an additional 5,957 shares during the period. Retirement Guys Formula LLC acquired a new stake in shares of Kellanova during the first quarter worth about $934,000. Finally, Decagon Asset Management LLP acquired a new stake in shares of Kellanova during the fourth quarter worth about $10,125,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 0.2%

NYSE:K opened at $79.50 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The company has a market cap of $27.58 billion, a PE ratio of 20.07, a PEG ratio of 4.23 and a beta of 0.28. Kellanova has a 52-week low of $56.10 and a 52-week high of $83.22. The stock has a 50-day simple moving average of $80.86 and a 200 day simple moving average of $81.69.

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

Kellanova Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price target on the stock in a research report on Thursday, May 29th. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.75.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated 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 transaction, the insider directly owned 45,899,535 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,374,996 shares of company stock worth $111,466,342 in the last ninety days. 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.