Mitsubishi UFJ Trust & Banking Corp Buys 3,500 Shares of Kellanova $K

Mitsubishi UFJ Trust & Banking Corp raised its position in Kellanova (NYSE:K) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,983 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Kellanova worth $22,426,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. CWM LLC raised its holdings in Kellanova by 2.9% during the first quarter. CWM LLC now owns 13,777 shares of the company’s stock worth $1,136,000 after acquiring an additional 386 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Kellanova by 11.4% during the first quarter. Apollon Wealth Management LLC now owns 7,116 shares of the company’s stock worth $587,000 after purchasing an additional 728 shares during the period. Larson Financial Group LLC grew its stake in Kellanova by 31.0% in the 1st quarter. Larson Financial Group LLC now owns 1,643 shares of the company’s stock valued at $135,000 after buying an additional 389 shares during the last quarter. Bridgewater Advisors Inc. acquired a new position in shares of Kellanova in the first quarter valued at approximately $219,000. Finally, Graypoint LLC increased its position in Kellanova by 14.6% during the 1st quarter. Graypoint LLC now owns 12,882 shares of the company’s stock worth $1,063,000 after buying an additional 1,639 shares during the period. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Up 0.0%

Shares of Kellanova stock opened at $83.32 on Friday. The stock has a market capitalization of $28.99 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. Kellanova has a 52 week low of $76.48 and a 52 week high of $83.45. The stock has a 50 day moving average price of $81.58 and a two-hundred day moving average price of $80.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Kellanova’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Kellanova’s dividend payout ratio (DPR) is 63.74%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of Kellanova stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the completion of the transaction, the insider directly owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the topic of several recent research reports. Weiss Ratings cut shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, JPMorgan Chase & Co. started coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price objective on the stock. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.50.

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.