Kellanova (NYSE:K) Holdings Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Kellanova (NYSE:K) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 286,465 shares of the company’s stock after selling 29,652 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Kellanova were worth $23,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in K. Thrivent Financial for Lutherans increased its position in Kellanova by 7.1% in the third quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock worth $1,750,000 after buying an additional 1,432 shares during the period. Pathstone Holdings LLC increased its stake in shares of Kellanova by 11.6% in the third quarter. Pathstone Holdings LLC now owns 17,280 shares of the company’s stock valued at $1,395,000 after purchasing an additional 1,791 shares during the period. Quantbot Technologies LP acquired a new stake in Kellanova in the 3rd quarter valued at approximately $378,000. Brooklyn Investment Group acquired a new position in shares of Kellanova during the third quarter valued at $107,000. Finally, Townsquare Capital LLC bought a new stake in shares of Kellanova during the 3rd quarter worth about $414,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total value of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 1,260,413 shares of company stock worth $103,290,845. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on K shares. StockNews.com initiated coverage on Kellanova in a research note on Friday. They set a “hold” rating for the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Trading Up 0.0 %

NYSE:K opened at $82.47 on Friday. The stock has a market cap of $28.47 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock’s 50-day moving average is $82.22 and its two-hundred day moving average is $81.31.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

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.