Resona Asset Management Co. Ltd. Makes New $12.02 Million Investment in Kellanova (NYSE:K)

Resona Asset Management Co. Ltd. bought a new position in Kellanova (NYSE:K - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 148,424 shares of the company's stock, valued at approximately $12,020,000.

Several other large investors have also added to or reduced their stakes in the business. ExodusPoint Capital Management LP grew its position in Kellanova by 60.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 207,744 shares of the company's stock worth $16,821,000 after purchasing an additional 78,297 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in Kellanova by 4.7% during the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after acquiring an additional 149 shares during the period. Cinctive Capital Management LP boosted its position in Kellanova by 88.9% in the fourth quarter. Cinctive Capital Management LP now owns 445,079 shares of the company's stock worth $36,038,000 after purchasing an additional 209,477 shares during the last quarter. Huntington National Bank increased its position in shares of Kellanova by 2.2% during the 4th quarter. Huntington National Bank now owns 12,682 shares of the company's stock valued at $1,027,000 after purchasing an additional 268 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after purchasing an additional 158,560 shares during the period. Institutional investors own 83.87% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Kellanova in a report on Saturday, April 5th. They set a "hold" rating for 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. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kellanova currently has an average rating of "Hold" and a consensus target price of $77.96.

Kellanova Price Performance

Kellanova stock traded up $0.04 during midday trading on Friday, reaching $82.18. 1,360,012 shares of the stock were exchanged, compared to its average volume of 2,726,877. The company's fifty day moving average is $82.33 and its 200-day moving average is $81.45. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The firm has a market cap of $28.37 billion, a PE ratio of 21.23, a PEG ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, sell-side analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the 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 of the company's stock, valued at $3,951,715,140.48. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,260,413 shares of company stock valued at $103,558,970 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.