Sumitomo Mitsui DS Asset Management Company Ltd Has $3.01 Million Holdings in Kellanova (NYSE:K)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Kellanova (NYSE:K) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,273 shares of the company’s stock after acquiring an additional 324 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kellanova were worth $3,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of K. CVA Family Office LLC raised its stake in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. acquired a new stake in Kellanova in the 2nd quarter valued at $29,000. BNP Paribas bought a new stake in Kellanova during the 1st quarter valued at $30,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $81.05 on Monday. The firm has a market capitalization of $27.71 billion, a PE ratio of 30.36, a P/E/G ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $80.19 and a two-hundred day moving average price of $66.65. Kellanova has a twelve month low of $49.28 and a twelve month high of $81.21.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm earned $1.25 EPS. Kellanova’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the sale, the insider now owns 50,908,638 shares of the company’s stock, valued at approximately $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the completion of the transaction, the insider now owns 50,482,855 shares in the company, valued at $4,051,249,113.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,076,498 shares of company stock worth $84,360,375 in the last quarter. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

K has been the topic of a number of recent research reports. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the company from $80.00 to $83.50 in a research note on Monday, August 26th. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $74.32.

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.