Kellanova (NYSE:K) Shares Sold by Nomura Holdings Inc.

Nomura Holdings Inc. decreased its stake in shares of Kellanova (NYSE:K) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,929 shares of the company’s stock after selling 2,234 shares during the period. Nomura Holdings Inc.’s holdings in Kellanova were worth $1,002,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Naples Global Advisors LLC grew its holdings in shares of Kellanova by 1.7% during the 4th quarter. Naples Global Advisors LLC now owns 11,696 shares of the company’s stock worth $654,000 after purchasing an additional 200 shares during the period. Financial Advisors Network Inc. increased its position in shares of Kellanova by 4.2% in the fourth quarter. Financial Advisors Network Inc. now owns 5,040 shares of the company’s stock worth $282,000 after acquiring an additional 204 shares in the last quarter. Blue Trust Inc. increased its position in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after acquiring an additional 206 shares in the last quarter. Kennedy Investment Group raised its stake in shares of Kellanova by 1.2% in the 4th quarter. Kennedy Investment Group now owns 18,520 shares of the company’s stock valued at $1,035,000 after acquiring an additional 218 shares during the period. Finally, Jeppson Wealth Management LLC lifted its holdings in shares of Kellanova by 3.1% during the 4th quarter. Jeppson Wealth Management LLC now owns 7,256 shares of the company’s stock valued at $406,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. DA Davidson raised their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Barclays raised their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $61.85.

Kellanova Trading Down 1.8 %

K opened at $57.72 on Friday. The stock has a market capitalization of $19.73 billion, a PE ratio of 21.62, a P/E/G ratio of 2.09 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. Kellanova has a 12-month low of $47.63 and a 12-month high of $68.69. The firm’s fifty day moving average price is $59.51 and its 200 day moving average price is $56.66.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 EPS. As a group, research analysts expect that Kellanova will post 3.61 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.88%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Insider Activity at Kellanova

In other news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related 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 8th. The stock was sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the completion of the transaction, the insider now owns 52,075,638 shares in the company, valued at approximately $2,992,266,159.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 787,800 shares of company stock valued at $46,428,250. Corporate insiders own 1.80% of the company’s stock.

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.