Nissay Asset Management Corp Japan ADV Increases Holdings in Kellanova $K

Nissay Asset Management Corp Japan ADV raised its stake in shares of Kellanova (NYSE:K) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,264 shares of the company’s stock after buying an additional 410 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Kellanova were worth $2,826,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Financial Counselors Inc. purchased a new stake in Kellanova during the 1st quarter valued at $522,000. IFM Investors Pty Ltd raised its stake in Kellanova by 11.6% during 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 during the last quarter. Retirement Guys Formula LLC bought a new stake in shares of Kellanova during the 1st quarter valued at $934,000. Syquant Capital Sas grew its position in shares of Kellanova by 39.9% during the 1st quarter. Syquant Capital Sas now owns 511,400 shares of the company’s stock valued at $42,185,000 after acquiring an additional 145,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kellanova by 12.6% during 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 acquiring an additional 3,747 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction dated Thursday, August 28th. The shares were 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 owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 1,145,846 shares of company stock worth $91,267,778. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on K shares. Wall Street Zen downgraded shares of Kellanova from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective for the company. Finally, Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.38.

Kellanova Trading Up 0.5%

Shares of Kellanova stock opened at $79.86 on Monday. The company has a market capitalization of $27.76 billion, a P/E ratio of 20.96, a P/E/G ratio of 4.97 and a beta of 0.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. The company has a fifty day moving average of $79.81 and a 200 day moving average of $81.19. Kellanova has a fifty-two week low of $77.70 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last issued its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. On average, sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.58 per share. This is a boost from Kellanova’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. Kellanova’s payout ratio is currently 60.89%.

About Kellanova

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.