Kellanova (NYSE:K) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Kellanova (NYSE:K) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 744,086 shares of the company’s stock after selling 63,865 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Kellanova worth $60,249,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of K. Sanctuary Advisors LLC purchased a new position in shares of Kellanova during the 2nd quarter worth approximately $482,000. Mather Group LLC. lifted its stake in Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Kellanova during the third quarter worth $257,000. CWM LLC grew its stake in shares of Kellanova by 20.8% in the third quarter. CWM LLC now owns 12,426 shares of the company’s stock valued at $1,003,000 after buying an additional 2,140 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in shares of Kellanova in the 3rd quarter valued at $210,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K opened at $82.29 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29. The firm’s fifty day simple moving average is $81.21 and its 200-day simple moving average is $79.14. The firm has a market capitalization of $28.37 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.53 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.31.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a report on Saturday. They issued a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.96.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,031,247 shares of company stock valued at $83,724,652 over the last three months. 1.80% of the stock is owned by corporate 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.