Kellanova (NYSE:K) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its position in shares of Kellanova (NYSE:K) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,899 shares of the company’s stock after buying an additional 592 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Kellanova were worth $9,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter valued at approximately $285,126,000. Caisse Des Depots ET Consignations bought a new stake in shares of Kellanova in the fourth quarter worth $1,744,000. NEOS Investment Management LLC raised its holdings in Kellanova by 28.5% in the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the company’s stock valued at $905,000 after acquiring an additional 2,483 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in Kellanova by 23.0% during the 4th quarter. UniSuper Management Pty Ltd now owns 31,250 shares of the company’s stock valued at $2,530,000 after acquiring an additional 5,852 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Kellanova by 3.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 434,182 shares of the company’s stock worth $35,260,000 after acquiring an additional 14,136 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

Shares of K opened at $82.43 on Monday. The firm has a fifty day moving average of $82.24 and a 200-day moving average of $81.34. The company has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Kellanova in a research note on Friday. They issued a “hold” rating on the stock. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.96.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares in the company, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is owned by company insiders.

Kellanova Company 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.