Daiwa Securities Group Inc. Sells 1,011 Shares of Kellanova (NYSE:K)

Daiwa Securities Group Inc. lessened its position in Kellanova (NYSE:K) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,316 shares of the company’s stock after selling 1,011 shares during the period. Daiwa Securities Group Inc.’s holdings in Kellanova were worth $2,689,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. grew its stake in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Kellanova in the second quarter worth about $88,065,000. Point72 Asset Management L.P. bought a new position in shares of Kellanova in the 2nd quarter valued at $63,585,000. Boston Partners increased its stake in shares of Kellanova by 117.1% in the first quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after buying an additional 689,395 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Kellanova by 130.1% during the second quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company’s stock valued at $62,122,000 after acquiring an additional 608,989 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays upped their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price objective on the stock. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Trading Up 0.0 %

Shares of K stock opened at $81.15 on Thursday. The business’s fifty day moving average is $80.80 and its 200 day moving average is $71.12. The company has a market capitalization of $27.97 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.81%. Kellanova’s payout ratio is 78.35%.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,031,247 shares of company stock valued at $83,211,320 over the last three months. 1.80% of the stock is owned by company insiders.

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.