Mirae Asset Global Investments Co. Ltd. Sells 34,131 Shares of Kellanova (NYSE:K)

Mirae Asset Global Investments Co. Ltd. cut its stake in Kellanova (NYSE:K - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,948 shares of the company's stock after selling 34,131 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Kellanova were worth $5,644,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of K. Stratos Wealth Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $222,000. Allworth Financial LP increased its stake in shares of Kellanova by 379.0% during the 4th quarter. Allworth Financial LP now owns 29,567 shares of the company's stock worth $1,653,000 after purchasing an additional 23,394 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Kellanova by 133.4% during the 4th quarter. International Assets Investment Management LLC now owns 60,885 shares of the company's stock worth $3,404,000 after purchasing an additional 34,800 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Kellanova by 5.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 270,584 shares of the company's stock worth $15,050,000 after acquiring an additional 14,217 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in Kellanova by 17.8% in the 4th quarter. Private Trust Co. NA now owns 3,906 shares of the company's stock valued at $218,000 after purchasing an additional 590 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on K. Citigroup initiated coverage on Kellanova in a report on Thursday, February 1st. They issued a "neutral" rating and a $57.00 price target for the company. Stifel Nicolaus increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a research note on Friday, February 9th. StockNews.com lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Finally, DA Davidson assumed coverage on Kellanova in a report on Friday, March 1st. They issued a "buy" rating and a $67.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Kellanova presently has a consensus rating of "Hold" and an average target price of $62.27.

Kellanova Stock Performance

Shares of NYSE K traded down $0.02 during midday trading on Monday, hitting $55.40. The company's stock had a trading volume of 1,655,499 shares, compared to its average volume of 3,195,736. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The firm's fifty day moving average price is $55.41 and its 200-day moving average price is $54.03. The firm has a market cap of $18.93 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.07 and a beta of 0.40.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The business's revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, sell-side analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, February 29th. Kellanova's dividend payout ratio (DPR) is 81.45%.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the transaction, the insider now owns 51,997,838 shares of the company's stock, valued at approximately $2,878,080,333.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,011,400 shares of company stock worth $55,565,538 in the last three months. 1.80% of the stock is owned by company insiders.

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.