Sumitomo Mitsui Trust Holdings Inc. Has $47.69 Million Holdings in Kellanova (NYSE:K)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Kellanova (NYSE:K) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 852,927 shares of the company’s stock after purchasing an additional 6,615 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Kellanova worth $47,687,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in K. Louisiana State Employees Retirement System purchased a new stake in Kellanova in the 4th quarter worth approximately $889,000. Graypoint LLC purchased a new stake in shares of Kellanova during the fourth quarter worth $388,000. ORG Partners LLC boosted its position in Kellanova by 680.2% during the fourth quarter. ORG Partners LLC now owns 1,732 shares of the company’s stock valued at $97,000 after purchasing an additional 1,510 shares during the last quarter. Kennedy Investment Group grew its stake in Kellanova by 1.2% in the fourth quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after purchasing an additional 218 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in Kellanova by 13.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 23,325 shares of the company’s stock worth $1,304,000 after purchasing an additional 2,684 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on K. Wells Fargo & Company boosted their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. DA Davidson assumed coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Citigroup initiated coverage on Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average target price of $62.27.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.68, for a total value of $4,254,104.00. Following the completion of the sale, the insider now owns 52,775,838 shares in the company, valued at approximately $2,885,782,821.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 933,600 shares of company stock valued at $51,308,322. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $57.38 on Friday. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.10 and a beta of 0.40. The business has a 50 day moving average price of $55.61 and a 200 day moving average price of $54.04. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Research analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.90%. Kellanova’s payout ratio is 81.45%.

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.