Nomura Holdings Inc. Has $700,000 Stake in Kellanova $K

Key Points

• Nomura Holdings Inc. significantly reduced its stake in Kellanova by 91.1%, selling 86,627 shares and now owning only 8,487 shares valued at approximately $700,000.
• Major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares for about $9.1 million, resulting in a slight decrease in their ownership percentage.
• Kellanova recently increased its quarterly dividend to $0.58 per share, up from $0.57, which reflects a 2.9% dividend yield.

Nomura Holdings Inc. lowered its position in Kellanova (NYSE:K - Free Report) by 91.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,487 shares of the company's stock after selling 86,627 shares during the quarter. Nomura Holdings Inc.'s holdings in Kellanova were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in K. JPMorgan Chase & Co. increased its stake in shares of Kellanova by 66.3% in the first quarter. JPMorgan Chase & Co. now owns 2,413,007 shares of the company's stock valued at $199,049,000 after buying an additional 962,172 shares during the period. Bank of America Corp DE increased its stake in shares of Kellanova by 43.1% in the fourth quarter. Bank of America Corp DE now owns 2,255,889 shares of the company's stock valued at $182,659,000 after buying an additional 679,754 shares during the period. Sona Asset Management US LLC increased its stake in shares of Kellanova by 427.9% in the fourth quarter. Sona Asset Management US LLC now owns 698,073 shares of the company's stock valued at $56,523,000 after buying an additional 565,839 shares during the period. GAMMA Investing LLC increased its stake in shares of Kellanova by 8,377.9% in the first quarter. GAMMA Investing LLC now owns 568,274 shares of the company's stock valued at $46,877,000 after buying an additional 561,571 shares during the period. Finally, Alpine Associates Management Inc. increased its stake in shares of Kellanova by 89.0% in the first quarter. Alpine Associates Management Inc. now owns 1,158,150 shares of the company's stock valued at $95,536,000 after buying an additional 545,300 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Trading Up 0.5%

K traded up $0.38 during trading on Friday, hitting $79.86. The company's stock had a trading volume of 3,493,186 shares, compared to its average volume of 2,250,534. Kellanova has a twelve month low of $77.70 and a twelve month high of $83.22. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03. The stock's fifty day moving average price is $79.81 and its 200-day moving average price is $81.20. The firm has a market capitalization of $27.76 billion, a P/E ratio of 20.96, a PEG ratio of 4.97 and a beta of 0.27.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the firm posted $1.01 earnings per share. Kellanova's quarterly revenue was up .3% compared to the same quarter last year. Analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Increases Dividend

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

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company's 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 directly owned 45,097,438 shares of the company's stock, valued at $3,587,501,192.90. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,260,429 shares of company stock valued at $100,650,980 over the last quarter. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

K has been the topic of several analyst reports. Wall Street Zen cut Kellanova from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. initiated coverage on Kellanova in a report on Wednesday, August 20th. They issued a "neutral" rating and a $83.50 target price on the stock. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.