Wilmington Savings Fund Society FSB Invests $210,000 in Kellanova (NYSE:K)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Kellanova (NYSE:K) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,601 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investors Research Corp raised its position in shares of Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares in the last quarter. Assetmark Inc. increased its holdings in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares in the last quarter. MCF Advisors LLC lifted its stake in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the period. S.A. Mason LLC boosted its holdings 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 buying an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after buying an additional 145 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 0.2 %

NYSE:K opened at $80.39 on Thursday. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The firm has a 50-day moving average price of $80.82 and a two-hundred day moving average price of $73.18. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. 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 (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, equities analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is 78.35%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the sale, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 1,031,247 shares of company stock valued at $83,327,049 in the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com started coverage on shares of Kellanova in a research note on Saturday, December 14th. They issued a “hold” rating for the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.35.

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.