Mitsubishi UFJ Asset Management Co. Ltd. Buys 14,136 Shares of Kellanova (NYSE:K)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Kellanova (NYSE:K - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 434,182 shares of the company's stock after purchasing an additional 14,136 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Kellanova worth $35,260,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of K. Independent Advisor Alliance boosted its stake in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after purchasing an additional 1,019 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company's stock worth $14,435,000 after acquiring an additional 8,686 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Kellanova during the 4th quarter valued at about $384,000. Barclays PLC increased its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, Alpine Associates Management Inc. raised its position in shares of Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after purchasing an additional 296,150 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a report on Friday. They set a "hold" rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from 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 Kellanova stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now owns 48,534,944 shares in the company, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $103,473,032. 1.80% of the stock is owned by insiders.

Kellanova Price Performance

Shares of K traded down $0.05 during mid-day trading on Tuesday, hitting $82.45. The company's stock had a trading volume of 2,316,609 shares, compared to its average volume of 2,672,533. The firm has a 50-day simple moving average of $82.25 and a 200 day simple moving average of $81.36. The firm has a market capitalization of $28.46 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last released its quarterly 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 return on equity of 37.25% and a net margin of 10.53%. Analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is currently 58.91%.

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.