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

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Kellanova (NYSE:K) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 852,927 shares of the company’s stock after buying an additional 6,615 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Kellanova were worth $47,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. grew its holdings in shares of Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Norwood Financial Corp grew its stake in Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP grew its stake 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 in the last quarter. Cowa LLC bought a new stake in shares of Kellanova during the 1st quarter worth approximately $33,000. Finally, Blue Trust Inc. boosted its holdings in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

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

Kellanova Trading Up 1.5 %

Shares of Kellanova stock opened at $57.38 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The firm has a 50-day moving average of $55.61 and a 200-day moving average of $54.04. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30. The stock has a market cap of $19.61 billion, a PE ratio of 20.87, a PEG ratio of 2.10 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 the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The business’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on K. Stifel Nicolaus boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective on the stock. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Wells Fargo & Company upped their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.27.

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.