MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 72,547 Shares of Kellanova $K

Key Points

• MIRAE ASSET GLOBAL ETFs HOLDINGS Ltd. increased its stake in Kellanova by 135.7% in Q1, acquiring an additional 72,547 shares to total 125,990 shares worth approximately $10.4 million.
• Additionally, significant insider transactions occurred with the Kellogg W. K. Foundation Trust selling 114,599 shares for $9.1 million, reducing their ownership by 0.25%.
• Kellanova has declared a quarterly dividend of $0.58, up from the previous $0.57, with a dividend yield of 2.9% and a payout ratio of 60.89%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Kellanova (NYSE:K - Free Report) by 135.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,990 shares of the company's stock after purchasing an additional 72,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Kellanova were worth $10,393,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Kellanova by 0.8% in the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock worth $2,697,039,000 after purchasing an additional 259,604 shares during the last quarter. Keybank National Association OH grew its holdings in Kellanova by 0.7% in the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after acquiring an additional 128,439 shares during the last quarter. Northern Trust Corp increased its position in shares of Kellanova by 3.0% in the first quarter. Northern Trust Corp now owns 4,015,549 shares of the company's stock valued at $331,243,000 after acquiring an additional 117,650 shares during the period. Amundi raised its stake in shares of Kellanova by 12.0% during the first quarter. Amundi now owns 2,949,498 shares of the company's stock valued at $243,481,000 after acquiring an additional 316,567 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Kellanova by 3.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,661,225 shares of the company's stock worth $215,479,000 after purchasing an additional 86,293 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider owned 45,097,438 shares of the company's stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 1,145,846 shares of company stock worth $91,267,778. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on K shares. Wall Street Zen lowered Kellanova from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. started coverage on shares of Kellanova in a research report on Wednesday, August 20th. They set a "neutral" rating and a $83.50 price objective on the stock. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Kellanova presently has a consensus rating of "Hold" and a consensus target price of $83.38.

Kellanova Trading Up 0.2%

K opened at $79.49 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. Kellanova has a 52 week low of $77.70 and a 52 week high of $83.22. The stock has a market cap of $27.63 billion, a PE ratio of 20.86, a PEG ratio of 4.94 and a beta of 0.27. The business has a 50 day moving average of $79.80 and a 200-day moving average of $81.16.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.Kellanova's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Kellanova's previous quarterly dividend of $0.57. Kellanova's dividend payout ratio (DPR) is 60.89%.

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.

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