Sumitomo Mitsui DS Asset Management Company Ltd Acquires 235 Shares of Kellanova (NYSE:K)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Kellanova (NYSE:K) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,508 shares of the company’s stock after purchasing an additional 235 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kellanova were worth $3,037,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of K. Sanctuary Advisors LLC bought a new position in shares of Kellanova in the second quarter worth approximately $482,000. Mather Group LLC. lifted its stake in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares in the last quarter. Atomi Financial Group Inc. bought a new position in Kellanova in the 3rd quarter worth $257,000. CWM LLC increased its stake in Kellanova by 20.8% in the 3rd quarter. CWM LLC now owns 12,426 shares of the company’s stock worth $1,003,000 after buying an additional 2,140 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in Kellanova during the third quarter valued at about $210,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on K. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. StockNews.com initiated coverage on Kellanova in a research note on Saturday. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the transaction, the insider now owns 49,222,442 shares in the company, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 1,031,247 shares of company stock worth $83,724,652 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.2 %

Shares of K opened at $82.29 on Monday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The company’s fifty day moving average is $81.21 and its 200 day moving average is $79.14. The stock has a market capitalization of $28.37 billion, a PE ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts expect that Kellanova will post 3.91 earnings per share for the current fiscal year.

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.