Mitsubishi UFJ Trust & Banking Corp Trims Position in Kellanova (NYSE:K)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in Kellanova (NYSE:K) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,465 shares of the company’s stock after selling 29,652 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Kellanova worth $23,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Westchester Capital Management LLC purchased a new position in Kellanova during the third quarter worth approximately $107,795,000. Barclays PLC increased its holdings in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. State Street Corp increased its holdings in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP boosted its holdings in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after acquiring an additional 632,510 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock valued at $47,423,000 after acquiring an additional 493,976 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.0 %

Shares of Kellanova stock opened at $82.47 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The business has a 50-day moving average of $82.22 and a 200-day moving average of $81.31. The company has a market capitalization of $28.47 billion, a PE ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31.

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

Kellanova Announces Dividend

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

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s 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 completion of the sale, the insider now directly owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,260,413 shares of company stock worth $103,290,845 in the last ninety days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.