Sumitomo Mitsui Trust Group Inc. Decreases Holdings in Kellanova (NYSE:K)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Kellanova (NYSE:K) by 7.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 744,086 shares of the company’s stock after selling 63,865 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kellanova were worth $60,249,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in shares of Kellanova in the 4th quarter worth about $1,311,000. Bleakley Financial Group LLC acquired a new stake in Kellanova during the 4th quarter valued at approximately $250,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Kellanova by 29.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,849 shares of the company’s stock worth $2,421,000 after buying an additional 6,731 shares during the last quarter. Optas LLC bought a new stake in shares of Kellanova in the 4th quarter worth about $273,000. Finally, CENTRAL TRUST Co raised its stake in Kellanova by 0.7% during the fourth quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock valued at $1,820,000 after buying an additional 162 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the sale, the insider now owns 48,305,778 shares in the company, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 1,031,247 shares of company stock worth $83,724,652 in the last 90 days. 1.80% of the stock is owned by company insiders.

Kellanova Trading Up 0.2 %

Shares of K stock opened at $82.29 on Monday. The firm has a fifty day moving average of $81.21 and a 200-day moving average of $79.14. The stock has a market cap of $28.37 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.37. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities research analysts forecast that Kellanova will post 3.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

K has been the subject of several analyst reports. StockNews.com assumed coverage on shares of Kellanova in a report on Saturday. They set a “hold” rating for the company. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.96.

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.