Mitsubishi UFJ Asset Management Co. Ltd. Purchases 25,780 Shares of Kellanova (NYSE:K)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Kellanova (NYSE:K) by 9.2% in the fourth quarter, HoldingsChannel reports. The fund owned 307,031 shares of the company’s stock after purchasing an additional 25,780 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Kellanova were worth $17,648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baker Avenue Asset Management LP increased its holdings in Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Blue Trust Inc. grew its position in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares in the last quarter. Northwest Financial Advisors bought a new stake in Kellanova in the 4th quarter worth about $42,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after buying an additional 928 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Kellanova in the 4th quarter worth approximately $74,000. Institutional investors own 83.87% of the company’s stock.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $55.78, for a total value of $4,339,684.00. Following the sale, the insider now directly owns 52,464,638 shares of the company’s stock, valued at $2,926,477,507.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $55.78, for a total value of $4,339,684.00. Following the completion of the sale, the insider now directly owns 52,464,638 shares of the company’s stock, valued at approximately $2,926,477,507.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 943,400 shares of company stock worth $53,719,666. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on K shares. Wells Fargo & Company lifted their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Piper Sandler increased their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Citigroup began coverage on shares of Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, DA Davidson upped their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.85.

Kellanova Trading Down 0.9 %

Shares of K opened at $61.56 on Friday. Kellanova has a twelve month low of $47.63 and a twelve month high of $69.61. The stock has a market cap of $21.05 billion, a PE ratio of 23.06, a P/E/G ratio of 2.20 and a beta of 0.39. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The business’s 50-day moving average price is $57.65 and its 200-day moving average price is $55.39.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. Kellanova’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.62 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Kellanova’s payout ratio is currently 83.90%.

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.