Kellanova (NYSE:K) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in shares of Kellanova (NYSE:K) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,009 shares of the company’s stock after buying an additional 1,347 shares during the period. Daiwa Securities Group Inc.’s holdings in Kellanova were worth $1,398,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. boosted its stake in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the period. Baker Avenue Asset Management LP lifted its position in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the period. Blue Trust Inc. lifted its position in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Kellanova by 339.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after purchasing an additional 928 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its position in Kellanova by 95.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock valued at $70,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. DA Davidson assumed coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Barclays increased their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, Piper Sandler increased their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $62.27.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.76, for a total value of $4,493,728.00. Following the completion of the sale, the insider now directly owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 933,600 shares of company stock valued at $51,632,748. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.3 %

Shares of K opened at $58.15 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $55.76 and a 200-day simple moving average of $54.16. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The stock has a market cap of $19.87 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 annualized dividend and a yield of 3.85%. Kellanova’s payout ratio is currently 81.45%.

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.