Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Kellanova (NYSE:K)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Kellanova (NYSE:K) by 28.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,118 shares of the company’s stock after acquiring an additional 5,064 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Kellanova were worth $1,867,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CVA Family Office LLC boosted its position in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova in the second quarter worth about $29,000. BNP Paribas acquired a new position in shares of Kellanova in the first quarter worth about $30,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the completion of the sale, the insider now owns 49,680,774 shares in the company, valued at $4,012,219,308.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,227,864 shares of company stock worth $98,438,243. Insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

K opened at $80.65 on Friday. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. Kellanova has a 1-year low of $50.14 and a 1-year high of $81.26. The business has a 50 day moving average price of $80.63 and a two-hundred day moving average price of $68.09.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. 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 dividend payout ratio (DPR) is presently 86.36%.

Analyst Upgrades and Downgrades

K has been the topic of several recent analyst reports. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $76.00 to $83.50 in a report on Thursday, August 15th. BNP Paribas raised Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a report on Monday, August 5th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.32.

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.