Kellanova (NYSE:K) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in Kellanova (NYSE:K) by 5.7% in the fourth quarter, HoldingsChannel reports. The fund owned 25,009 shares of the company’s stock after purchasing an additional 1,347 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Kellanova were worth $1,398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Oakworth Capital Inc. lifted its stake in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Kellanova by 205.4% during 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 during the last quarter. Blue Trust Inc. lifted its stake in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Kellanova by 339.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock valued at $67,000 after purchasing an additional 928 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Kellanova by 95.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock valued at $70,000 after purchasing an additional 570 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Up 0.3 %

Kellanova stock opened at $58.15 on Wednesday. The firm has a market cap of $19.87 billion, a PE ratio of 21.15, a P/E/G ratio of 2.14 and a beta of 0.40. 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’s 50 day moving average price is $55.76 and its two-hundred day moving average price is $54.16. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, research analysts predict that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is 81.45%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays increased their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Finally, Citigroup began coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and an average price target of $62.27.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.76, for a total value of $4,493,728.00. Following the completion of the sale, the insider now directly owns 51,920,038 shares of the company’s stock, valued at $2,998,901,394.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 933,600 shares of company stock valued at $51,632,748 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.