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

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Kellanova (NYSE:K - Free Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,086 shares of the company's stock after selling 63,865 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Kellanova worth $60,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new position in shares of Kellanova during the fourth quarter worth $1,311,000. Bleakley Financial Group LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $250,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Kellanova by 29.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,849 shares of the company's stock worth $2,421,000 after acquiring an additional 6,731 shares in the last quarter. Optas LLC acquired a new position in shares of Kellanova during the 4th quarter worth about $273,000. Finally, CENTRAL TRUST Co boosted its position in shares of Kellanova by 0.7% during the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company's stock worth $1,820,000 after acquiring an additional 162 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on K. StockNews.com began coverage on Kellanova in a report on Saturday, February 8th. They issued a "hold" rating for the company. BNP Paribas cut shares of 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. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $77.96.

Kellanova Stock Performance

Shares of K traded up $0.04 during mid-day trading on Thursday, hitting $82.22. 4,123,824 shares of the company's stock were exchanged, compared to its average volume of 2,371,387. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.34. The business's 50 day moving average is $81.31 and its two-hundred day moving average is $79.83. 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 has a market capitalization of $28.34 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. On average, equities analysts expect that Kellanova will post 3.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares of the company's stock, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 1,145,830 shares of company stock worth $93,146,812. 1.80% of the stock is owned by corporate insiders.

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.