Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Kellanova (NYSE:K)

Mitsubishi UFJ Trust & Banking Corp cut its position in Kellanova (NYSE:K - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,465 shares of the company's stock after selling 29,652 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Kellanova worth $23,195,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Independent Advisor Alliance grew its stake in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company's stock worth $583,000 after purchasing an additional 1,019 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Kellanova by 5.1% in 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 during the last quarter. Wedmont Private Capital acquired a new stake in shares of Kellanova in the fourth quarter valued at about $384,000. Barclays PLC raised its position in shares of Kellanova by 134.7% during the third 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, Alpine Associates Management Inc. lifted its stake in shares of Kellanova by 93.5% in the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company's stock worth $49,622,000 after acquiring an additional 296,150 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

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Kellanova Stock Down 0.1 %

Shares of K stock traded down $0.05 on Tuesday, reaching $82.45. 2,316,609 shares of the company were exchanged, compared to its average volume of 2,675,607. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a 50-day moving average of $82.27 and a 200-day moving average of $81.37. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a one year low of $55.01 and a one year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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 anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred 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 $3,951,715,140.48. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 1,260,413 shares of company stock worth $103,473,032. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

K has been the subject of a number of recent analyst reports. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com assumed coverage on shares of Kellanova in a research note on Friday. They set 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 company. According to MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and an average price target of $77.96.

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.