SBI Securities Co. Ltd. Takes Position in Kellanova (NYSE:K)

SBI Securities Co. Ltd. bought a new stake in shares of Kellanova (NYSE:K) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,206 shares of the company’s stock, valued at approximately $341,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its holdings in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after acquiring an additional 731,273 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after acquiring an additional 196,564 shares in the last quarter. Barclays PLC lifted its holdings in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after acquiring an additional 35,268 shares in the last quarter. Finally, Ilex Capital Partners UK LLP lifted its holdings in Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after buying an additional 632,510 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the sale, the insider now owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,145,830 shares of company stock valued at $93,461,916 in the last quarter. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

K has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Kellanova in a report on Tuesday. They issued a “hold” rating on the stock. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

K opened at $82.37 on Thursday. The company has a 50-day moving average of $81.87 and a 200-day moving average of $81.10. The company has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a 1-year low of $52.46 and a 1-year high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio is presently 58.91%.

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.