Wolff Financial Management LLC Sells 2,321 Shares of Kellanova $K

Wolff Financial Management LLC decreased its position in Kellanova (NYSE:K) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,441 shares of the company’s stock after selling 2,321 shares during the quarter. Kellanova accounts for 0.6% of Wolff Financial Management LLC’s portfolio, making the stock its 22nd biggest holding. Wolff Financial Management LLC’s holdings in Kellanova were worth $2,501,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. increased its stake in Kellanova by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock worth $526,000 after acquiring an additional 123 shares during the last quarter. Independent Advisor Alliance raised its position in 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 purchasing an additional 131 shares during the period. Sequoia Financial Advisors LLC raised its position in Kellanova by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after purchasing an additional 132 shares during the period. Legacy Advisors LLC raised its position in Kellanova by 7.1% during the first quarter. Legacy Advisors LLC now owns 2,687 shares of the company’s stock valued at $222,000 after purchasing an additional 179 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Kellanova by 6.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,288 shares of the company’s stock valued at $271,000 after purchasing an additional 185 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction that occurred 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 transaction, the insider owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,031,263 shares of company stock valued at $82,079,367 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of a number of recent research reports. Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 price objective on the stock in a research report on Thursday, May 29th. Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. initiated coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.38.

Kellanova Trading Up 0.5%

Shares of NYSE K opened at $79.43 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The business’s 50 day moving average price is $79.75 and its 200-day moving average price is $81.04. Kellanova has a fifty-two week low of $77.70 and a fifty-two week high of $83.22. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.92 and a beta of 0.27.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 2.9%. Kellanova’s dividend payout ratio (DPR) is currently 60.89%.

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.