Journey Strategic Wealth LLC Purchases New Shares in Kellanova $K

Journey Strategic Wealth LLC acquired a new stake in shares of Kellanova (NYSE:K) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,637 shares of the company’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also recently modified their holdings of K. Financial Network Wealth Advisors LLC purchased a new position in shares of Kellanova during the first quarter valued at about $25,000. Trust Co. of Toledo NA OH bought a new stake in Kellanova during the 2nd quarter valued at approximately $45,000. Dagco Inc. purchased a new position in shares of Kellanova during the 1st quarter worth approximately $49,000. Capital Advisors Ltd. LLC raised its position in shares of Kellanova by 32.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after acquiring an additional 177 shares in the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Kellanova in the 1st quarter valued at approximately $62,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

K has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target on the stock. Weiss Ratings cut shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and an average target price of $83.50.

Kellanova Stock Performance

Shares of K stock opened at $83.42 on Monday. The company has a 50 day moving average price of $81.98 and a 200-day moving average price of $80.92. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.47. The firm has a market capitalization of $29.02 billion, a PE ratio of 21.89, a P/E/G ratio of 5.16 and a beta of 0.23. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. Kellanova’s dividend payout ratio (DPR) is 63.74%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by 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.