Kellanova (NYSE:K) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its holdings in Kellanova (NYSE:K) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,718 shares of the company’s stock after selling 5,806 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of Kellanova worth $16,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of K. Grove Bank & Trust acquired a new position in Kellanova during the first quarter worth $25,000. BankPlus Trust Department acquired a new position in Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. raised its holdings in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

K has been the subject of a number of analyst reports. Royal Bank Of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Citigroup raised Kellanova to a “neutral” rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Finally, Wall Street Zen cut Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $79.75.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the completion of the sale, the insider now owns 47,274,531 shares of the company’s stock, valued at approximately $3,877,929,777.93. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 1,374,996 shares of company stock valued at $112,416,235. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $77.93 on Thursday. The company has a market cap of $27.04 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.11 and a beta of 0.30. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The business has a fifty day simple moving average of $81.71 and a 200-day simple moving average of $81.80.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. Kellanova’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. Equities research analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.93%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

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.