Asset Management One Co. Ltd. Decreases Stake in Kellanova (NYSE:K)

Asset Management One Co. Ltd. lowered its holdings in Kellanova (NYSE:K - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,524 shares of the company's stock after selling 22,257 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of Kellanova worth $16,439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank raised its holdings in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company's stock valued at $14,435,000 after buying an additional 8,686 shares in the last quarter. Principal Financial Group Inc. grew its position in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock worth $30,169,000 after acquiring an additional 24,067 shares during the last quarter. Wedmont Private Capital bought a new position in Kellanova during the 4th quarter worth approximately $384,000. Barclays PLC grew its position in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Kellanova during the 3rd quarter worth approximately $4,211,000. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research report on Tuesday. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Finally, StockNews.com assumed coverage on Kellanova in a research report on Sunday. They issued a "hold" rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $77.96.

Kellanova Stock Performance

NYSE:K traded up $0.08 during mid-day trading on Wednesday, hitting $82.40. 2,485,287 shares of the company traded hands, compared to its average volume of 2,404,206. The stock's fifty day moving average price is $81.44 and its 200-day moving average price is $80.49. Kellanova has a one year low of $52.46 and a one year high of $82.49. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Research analysts anticipate that Kellanova will post 3.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares of the company's stock, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock valued at $102,571,264. Company 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.