Kellanova (NYSE:K) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Kellanova (NYSE:K - Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 739,917 shares of the company's stock after selling 4,169 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Kellanova worth $61,036,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in K. Grove Bank & Trust acquired a new position in shares of Kellanova in the first quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova during the fourth quarter valued at $32,000. Accredited Wealth Management LLC purchased a new position in Kellanova in the 4th quarter valued at about $36,000. Finally, Twin Tree Management LP acquired a new stake in shares of Kellanova in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $78.42, for a total transaction of $8,985,598.86. Following the transaction, the insider directly owned 46,128,701 shares in the company, valued at $3,617,412,732.42. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,374,996 shares of company stock valued at $112,064,466 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of K traded up $0.10 during mid-day trading on Wednesday, hitting $79.96. The company's stock had a trading volume of 2,739,186 shares, compared to its average volume of 2,990,069. The firm has a 50-day simple moving average of $81.46 and a 200 day simple moving average of $81.77. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The firm has a market capitalization of $27.74 billion, a P/E ratio of 20.19, a P/E/G ratio of 4.18 and a beta of 0.28. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. Analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.85%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Royal Bank Of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Finally, Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and an average price target of $79.75.

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.