Kellanova (NYSE:K) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Kellanova (NYSE:K) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 434,182 shares of the company’s stock after buying an additional 14,136 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Kellanova were worth $35,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the transaction, the insider now owns 47,389,114 shares of the company’s stock, valued at $3,906,758,558.16. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 1,374,996 shares of company stock valued at $112,737,068 over the last quarter. Company insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.0 %

Shares of NYSE:K opened at $82.43 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a 50 day simple moving average of $82.24 and a 200-day simple moving average of $81.33. The company has a market capitalization of $28.45 billion, a PE ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. On average, equities analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Analyst Ratings Changes

Several equities research analysts have weighed in on K shares. StockNews.com initiated coverage on Kellanova in a report on Friday. They set a “hold” rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen research 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 price target of $77.96.

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.