Mitsubishi UFJ Trust & Banking Corp Sells 17,129 Shares of Kellanova (NYSE:K)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in Kellanova (NYSE:K) by 4.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 409,427 shares of the company’s stock after selling 17,129 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Kellanova were worth $23,456,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after acquiring an additional 1,130,582 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kellanova by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after purchasing an additional 98,294 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in shares of Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after purchasing an additional 655,686 shares in the last quarter. Norges Bank purchased a new position in shares of Kellanova during the fourth quarter valued at about $150,184,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Kellanova by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock valued at $124,893,000 after buying an additional 9,726 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on K. Barclays cut their price objective on Kellanova from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Friday. Bank of America dropped their price target on Kellanova from $64.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen raised their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Finally, DA Davidson upped their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.62.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the sale, the insider now owns 51,842,238 shares of the company’s stock, valued at approximately $3,006,849,804. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the completion of the sale, the insider now directly owns 51,842,238 shares in the company, valued at approximately $3,006,849,804. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,600 shares of company stock worth $50,904,084. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Down 1.5 %

NYSE:K traded down $0.87 on Friday, reaching $57.96. 1,613,574 shares of the stock traded hands, compared to its average volume of 1,762,344. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $19.82 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.06 and a beta of 0.34. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.23. The company’s fifty day simple moving average is $58.95 and its 200 day simple moving average is $57.07.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm earned $1.10 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts predict that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.86%. Kellanova’s payout ratio is 83.90%.

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.