Sumitomo Mitsui Trust Group Inc. Sells 13,439 Shares of Kellanova (NYSE:K)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Kellanova (NYSE:K - Free Report) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 807,951 shares of the company's stock after selling 13,439 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Kellanova worth $65,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of K. Assetmark Inc. raised its position in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after buying an additional 131 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after purchasing an additional 137 shares during the last quarter. S.A. Mason LLC lifted its position in shares of Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock worth $160,000 after purchasing an additional 140 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on K. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $66.00 to $69.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. BNP Paribas downgraded shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Royal Bank of Canada downgraded shares of Kellanova from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. StockNews.com began coverage on Kellanova in a research note on Tuesday. They issued a "hold" rating on the stock. Finally, Argus downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $76.35.

Kellanova Stock Performance

Shares of NYSE K traded down $0.27 during trading on Friday, reaching $80.58. 3,846,285 shares of the stock traded hands, compared to its average volume of 3,040,291. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The stock has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34. The company has a 50-day moving average of $80.70 and a 200-day moving average of $69.75.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given 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 yield of 2.83%. Kellanova's payout ratio is 78.35%.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the transaction, the insider now directly owns 50,597,438 shares of the company's stock, valued at approximately $4,079,165,451.56. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,072,264 shares of company stock valued at $86,452,375. Corporate insiders own 1.80% of the company's stock.

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.