Kellanova $K Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its position in Kellanova (NYSE:K) by 15.0% in the 2nd quarter, Holdings Channel reports. The firm owned 226,311 shares of the company’s stock after acquiring an additional 29,593 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Kellanova were worth $17,999,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Counselors Inc. acquired a new position in Kellanova in the 1st quarter valued at $522,000. IFM Investors Pty Ltd grew its holdings in Kellanova by 11.6% in the 1st quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock valued at $4,620,000 after buying an additional 5,957 shares in the last quarter. Syquant Capital Sas grew its holdings in Kellanova by 123.6% in the 2nd quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after buying an additional 632,168 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kellanova by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,596 shares of the company’s stock valued at $2,771,000 after buying an additional 3,747 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Kellanova by 6.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 86,258 shares of the company’s stock valued at $6,860,000 after buying an additional 5,524 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 458,348 shares of company stock worth $36,597,937. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on K shares. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. JPMorgan Chase & Co. started coverage on Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price for the company. Finally, Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.38.

Kellanova Stock Performance

NYSE K opened at $83.01 on Friday. The stock has a market cap of $28.86 billion, a PE ratio of 21.79, a P/E/G ratio of 5.16 and a beta of 0.24. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a twelve month low of $76.48 and a twelve month high of $83.22. The stock has a fifty day simple moving average of $80.53 and a 200-day simple moving average of $80.84.

Kellanova (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

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.