High Note Wealth LLC Has $641,000 Stock Holdings in Kellanova $K

High Note Wealth LLC lessened its holdings in Kellanova (NYSE:K) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,065 shares of the company’s stock after selling 185 shares during the period. High Note Wealth LLC’s holdings in Kellanova were worth $641,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of K. Pinnacle Associates Ltd. grew its stake in shares of Kellanova by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock valued at $526,000 after buying an additional 123 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Kellanova by 1.8% during the first quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after acquiring an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Kellanova by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock worth $860,000 after buying an additional 132 shares during the last quarter. Cigna Investments Inc. New grew its holdings in Kellanova by 5.3% during the second quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock worth $222,000 after acquiring an additional 141 shares during the period. Finally, Legacy Advisors LLC grew its position in shares of Kellanova by 7.1% during the 1st quarter. Legacy Advisors LLC now owns 2,687 shares of the company’s stock valued at $222,000 after acquiring an additional 179 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

K has been the subject of several analyst reports. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kellanova in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $83.38.

Kellanova Stock Performance

Shares of K stock opened at $82.67 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The company’s fifty day moving average price is $79.72 and its two-hundred day moving average price is $80.76. The firm has a market capitalization of $28.74 billion, a P/E ratio of 21.70, a P/E/G ratio of 5.15 and a beta of 0.24. Kellanova has a 12 month low of $76.48 and a 12 month high of $83.22.

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 firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the company posted $1.01 earnings per share. The business’s revenue was up .3% on a year-over-year basis. On average, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.58 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Kellanova’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s dividend payout ratio is 60.89%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the sale, the insider directly owned 45,097,438 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 687,514 shares of company stock worth $54,869,342. Insiders own 1.80% of the company’s stock.

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.