Asset Management One Co. Ltd. Increases Stake in Kellanova $K

Asset Management One Co. Ltd. increased its position in shares of Kellanova (NYSE:K) by 15.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,311 shares of the company’s stock after buying an additional 29,593 shares during the period. Asset Management One Co. Ltd. owned about 0.07% of Kellanova worth $17,999,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in K. GAMMA Investing LLC increased its stake in shares of Kellanova by 2.8% during the first quarter. GAMMA Investing LLC now owns 6,889 shares of the company’s stock valued at $568,000 after buying an additional 186 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Kellanova by 22.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,849 shares of the company’s stock valued at $1,637,000 after buying an additional 3,665 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Kellanova by 0.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 40,733 shares of the company’s stock valued at $3,360,000 after buying an additional 299 shares during the period. Spire Wealth Management increased its stake in shares of Kellanova by 523.1% during the first quarter. Spire Wealth Management now owns 8,580 shares of the company’s stock valued at $708,000 after buying an additional 7,203 shares during the period. Finally, Perigon Wealth Management LLC increased its stake in shares of Kellanova by 7.3% during the first quarter. Perigon Wealth Management LLC now owns 2,874 shares of the company’s stock valued at $237,000 after buying an additional 196 shares during the period. 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 114,599 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the transaction, the insider owned 45,097,438 shares in the company, valued at $3,587,501,192.90. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 458,348 shares of company stock worth $36,597,937. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.0%

Shares of NYSE:K opened at $83.01 on Friday. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.22. The firm has a market capitalization of $28.86 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.68 and a quick ratio of 0.45. The business’s 50 day moving average price is $80.53 and its 200-day moving average price is $80.84.

Kellanova (NYSE:K) last announced its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business earned $1.01 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on K. Wall Street Zen lowered Kellanova from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. JPMorgan Chase & Co. assumed coverage on Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price for the company. Finally, Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average price target of $83.38.

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.