Nomura Asset Management Co. Ltd. Lowers Position in Kellanova (NYSE:K)

Nomura Asset Management Co. Ltd. decreased its stake in shares of Kellanova (NYSE:K - Free Report) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,307 shares of the company's stock after selling 31,868 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Kellanova were worth $9,468,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of K. Swedbank AB increased its stake in Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company's stock valued at $22,076,000 after buying an additional 46,450 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company's stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Kellanova during the third quarter valued at approximately $4,211,000. Impax Asset Management Group plc bought a new stake in Kellanova during the third quarter worth $4,991,000. Finally, Lombard Odier Asset Management Europe Ltd boosted its position in Kellanova by 227.9% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,018 shares of the company's stock worth $2,827,000 after purchasing an additional 34,069 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Kellanova Trading Down 0.0 %

Kellanova stock opened at $80.68 on Thursday. The firm has a market capitalization of $27.81 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The firm has a 50 day moving average of $80.82 and a 200 day moving average of $72.31. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $1.03 EPS. Kellanova's revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts predict that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova's payout ratio is currently 78.35%.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the transaction, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 1,145,830 shares of company stock worth $92,568,168. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on K. Piper Sandler lifted their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a research note on Thursday, August 15th. Royal Bank of Canada cut Kellanova from an "outperform" rating to a "sector perform" rating and lifted their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. StockNews.com initiated coverage on shares of Kellanova in a report on Friday, December 6th. They set a "hold" rating on the stock. Finally, BNP Paribas cut Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $76.35.

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.