Daiwa Securities Group Inc. Has $2.69 Million Holdings in Kellanova (NYSE:K)

Daiwa Securities Group Inc. lessened its stake in Kellanova (NYSE:K) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the 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 reporting period.

A number of other institutional investors have also added to or reduced their stakes in K. CVA Family Office LLC increased its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the period. MCF Advisors LLC lifted its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. Blue Trust Inc. grew its stake in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. acquired a new position in shares of Kellanova in the 2nd quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Kellanova by 61.9% during the 2nd 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 period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Up 0.0 %

Shares of NYSE K opened at $81.15 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm 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. The firm’s 50-day moving average is $80.80 and its 200-day moving average is $71.12. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Wells Fargo & Company upped their price objective on shares of 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 boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, StockNews.com started coverage on Kellanova in a report on Thursday. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,031,247 shares of company stock worth $83,211,320 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.