Kellanova (NYSE:K) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Kellanova (NYSE:K) by 79.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,759 shares of the company’s stock after selling 63,528 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Kellanova were worth $967,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares during the period. Norges Bank acquired a new stake in shares of Kellanova in the fourth quarter valued at $150,184,000. Dimensional Fund Advisors LP lifted its holdings in shares of Kellanova by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock valued at $124,893,000 after buying an additional 9,726 shares during the period. Yacktman Asset Management LP lifted its holdings in shares of Kellanova by 0.5% in the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock valued at $123,546,000 after buying an additional 10,510 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Kellanova by 3.0% in the second quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after buying an additional 40,406 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the sale, the insider now owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the completion of the sale, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,007,166 shares of company stock valued at $69,596,129 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Kellanova Price Performance

Shares of NYSE:K opened at $80.68 on Tuesday. Kellanova has a twelve month low of $47.63 and a twelve month high of $80.97. The company has a market cap of $27.58 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.57 and a beta of 0.39. The business has a 50 day moving average price of $70.45 and a 200 day moving average price of $62.32. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last issued its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Kellanova’s revenue was down 4.7% on a year-over-year basis. Research analysts predict that Kellanova will post 3.7 earnings per share for the current year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is presently 85.39%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. StockNews.com started coverage on Kellanova in a research report on Monday, September 9th. They set a “hold” rating on the stock. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Barclays boosted their target price on Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Fourteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $74.32.

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.