Mitsubishi UFJ Trust & Banking Corp Buys 3,500 Shares of Kellanova $K

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Kellanova (NYSE:K) by 1.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 281,983 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Kellanova were worth $22,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of K. Pentwater Capital Management LP boosted its holdings in Kellanova by 39.0% during the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock worth $659,920,000 after acquiring an additional 2,245,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kellanova by 66.3% in the first quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company’s stock valued at $199,049,000 after purchasing an additional 962,172 shares during the last quarter. Syquant Capital Sas lifted its position in shares of Kellanova by 123.6% during the second quarter. Syquant Capital Sas now owns 1,143,568 shares of the company’s stock valued at $90,948,000 after purchasing an additional 632,168 shares in the last quarter. Alpine Associates Management Inc. boosted its holdings in Kellanova by 89.0% during the first quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company’s stock worth $95,536,000 after purchasing an additional 545,300 shares during the last quarter. Finally, PSquared Asset Management AG bought a new stake in Kellanova in the 1st quarter worth about $28,905,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings cut shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. started coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Finally, Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.50.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.0%

Shares of K stock opened at $83.32 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The firm has a market cap of $28.99 billion, a P/E ratio of 21.87, a PEG ratio of 5.16 and a beta of 0.23. The company has a 50 day moving average of $81.58 and a 200-day moving average of $80.92. Kellanova has a 12-month low of $76.48 and a 12-month high of $83.45.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. Kellanova’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.58 per share. The ex-dividend date is Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s dividend payout ratio is presently 63.74%.

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.