Dai ichi Life Insurance Company Ltd Has $1.29 Million Stock Holdings in Kellanova (NYSE:K)

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Kellanova (NYSE:K) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,020 shares of the company’s stock after selling 739 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Kellanova were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. Price T Rowe Associates Inc. MD increased its stake in Kellanova by 1.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 356,803 shares of the company’s stock valued at $20,443,000 after purchasing an additional 4,263 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Kellanova by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,630 shares of the company’s stock worth $573,000 after acquiring an additional 303 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Kellanova by 36.7% in the 1st quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after acquiring an additional 10,051 shares during the last quarter. LRI Investments LLC bought a new position in Kellanova in the 1st quarter valued at about $314,000. Finally, Swedbank AB acquired a new position in Kellanova during the 1st quarter valued at about $13,069,000. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. StockNews.com assumed coverage on shares of Kellanova in a report on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus upped their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.35.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 1,031,247 shares of company stock worth $83,211,320. Insiders own 1.80% of the company’s stock.

Kellanova Price Performance

Shares of NYSE:K opened at $81.15 on Thursday. The company has a 50 day moving average of $80.80 and a 200 day moving average of $71.12. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.97 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $1.03 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

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.