Mufg Securities Americas Inc. Makes New Investment in Kellanova (NYSE:K)

Mufg Securities Americas Inc. bought a new position in shares of Kellanova (NYSE:K - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,970 shares of the company's stock, valued at approximately $321,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Kellanova by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after buying an additional 281,137 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares in the last quarter. Pentwater Capital Management LP lifted its position in shares of Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after purchasing an additional 450,700 shares during the period. Invesco Ltd. boosted its stake in shares of Kellanova by 2.7% during the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after purchasing an additional 111,396 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Kellanova by 15.7% during the fourth quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after buying an additional 530,132 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on K shares. Royal Bank of Canada lowered Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com cut Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Kellanova has an average rating of "Hold" and an average price target of $79.41.

Kellanova Stock Performance

K traded up $0.10 during trading on Tuesday, reaching $82.50. 3,329,911 shares of the company's stock were exchanged, compared to its average volume of 2,745,424. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market capitalization of $28.62 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company's fifty day simple moving average is $82.37 and its 200-day simple moving average is $81.77.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. As a group, research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio is presently 57.58%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $82.55, for a total value of $9,458,826.65. Following the transaction, the insider now directly owns 47,732,863 shares of the company's stock, valued at $3,940,347,840.65. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,786,990 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

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.