MUFG Securities EMEA plc Makes New Investment in Kellanova $K

MUFG Securities EMEA plc purchased a new stake in Kellanova (NYSE:K) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 119,999 shares of the company’s stock, valued at approximately $9,544,000.

A number of other institutional investors have also modified their holdings of K. Financial Network Wealth Advisors LLC acquired a new position in Kellanova in the first quarter valued at approximately $25,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Kellanova during the 2nd quarter worth approximately $45,000. Dagco Inc. bought a new stake in shares of Kellanova in the 1st quarter worth approximately $49,000. Cypress Capital Management LLC WY acquired a new position in Kellanova during the 1st quarter valued at approximately $54,000. Finally, Capital Advisors Ltd. LLC grew its stake in Kellanova by 32.7% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 718 shares of the company’s stock worth $57,000 after buying an additional 177 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE K opened at $83.08 on Friday. The stock has a market cap of $28.88 billion, a P/E ratio of 21.80, a P/E/G ratio of 5.16 and a beta of 0.24. The firm’s 50-day simple moving average is $80.84 and its 200 day simple moving average is $80.86. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.22. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company earned $0.91 EPS. Kellanova’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s payout ratio is presently 63.74%.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. JPMorgan Chase & Co. started coverage on Kellanova in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings lowered shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.50.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the stock in a transaction on Thursday, August 28th. The stock was 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 directly owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 343,765 shares of company stock valued at $27,455,360 in the last three months. Corporate insiders own 1.80% of the company’s stock.

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.