Daiwa Securities Group Inc. Boosts Holdings in Kellanova (NYSE:K)

Daiwa Securities Group Inc. raised its stake in shares of Kellanova (NYSE:K) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,981 shares of the company’s stock after buying an additional 2,665 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Kellanova were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the fourth quarter valued at $27,000. BankPlus Trust Department bought a new position in Kellanova during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in Kellanova during the fourth quarter valued at $32,000. First Horizon Advisors Inc. grew its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares in the last quarter. Finally, Sherman Asset Management Inc. bought a new stake in shares of Kellanova in the 4th quarter worth about $43,000. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the sale, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 1,145,830 shares of company stock valued at $93,673,894 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.30 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average is $82.03 and its two-hundred day moving average is $81.18. Kellanova has a 52 week low of $52.46 and a 52 week high of $83.22. The company has a market capitalization of $28.41 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Analysts Set New Price Targets

A number of brokerages recently commented on K. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research note on Wednesday. They issued a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Company 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.