Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Kellanova (NYSE:K)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Kellanova (NYSE:K) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 807,951 shares of the company’s stock after selling 13,439 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Kellanova worth $65,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB grew its holdings in Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after buying an additional 217,320 shares during the period. M&G Plc purchased a new position in shares of Kellanova in the 1st quarter worth $9,346,000. Finally, Atria Investments Inc acquired a new position in Kellanova in the first quarter valued at $1,003,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Down 0.4 %

Shares of Kellanova stock opened at $80.86 on Friday. Kellanova has a 1-year low of $51.02 and a 1-year high of $81.34. The company has a market capitalization of $27.87 billion, a PE ratio of 27.79, a P/E/G ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The business has a 50-day moving average of $80.69 and a 200-day moving average of $69.67.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.03 EPS. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the completion of the sale, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The trade was a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,072,264 shares of company stock valued at $86,452,375 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Evercore ISI raised shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, Barclays increased their price target on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.35.

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.