MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 6,714 Shares of Kellanova (NYSE:K)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Kellanova (NYSE:K) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,443 shares of the company’s stock after selling 6,714 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Kellanova were worth $4,325,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC lifted its stake in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Kellanova by 2.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,288 shares of the company’s stock worth $1,400,000 after acquiring an additional 354 shares during the period. Merit Financial Group LLC lifted its position in Kellanova by 29.8% in the 4th quarter. Merit Financial Group LLC now owns 4,952 shares of the company’s stock valued at $401,000 after acquiring an additional 1,138 shares in the last quarter. HB Wealth Management LLC boosted its stake in Kellanova by 13.1% in the 4th quarter. HB Wealth Management LLC now owns 6,743 shares of the company’s stock worth $546,000 after purchasing an additional 782 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its stake in Kellanova by 2.7% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,413 shares of the company’s stock worth $600,000 after purchasing an additional 194 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the completion of the sale, the insider now owns 47,732,863 shares of the company’s stock, valued at $3,940,347,840.65. This trade represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,260,413 shares of company stock valued at $103,786,990. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $79.41.

Kellanova Trading Up 0.1%

NYSE K opened at $82.40 on Tuesday. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. The stock has a market capitalization of $28.59 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock’s 50 day moving average price is $82.37 and its two-hundred day moving average price is $81.77.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. As a group, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s payout ratio 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.