Tokio Marine Asset Management Co. Ltd. Increases Stock Position in Kellanova $K

Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Kellanova (NYSE:K) by 5.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 158,438 shares of the company’s stock after purchasing an additional 7,559 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Kellanova were worth $12,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Kellanova in the second quarter valued at about $294,749,000. LMR Partners LLP boosted its holdings in shares of Kellanova by 1,866.3% during the second quarter. LMR Partners LLP now owns 961,906 shares of the company’s stock worth $76,500,000 after purchasing an additional 912,986 shares during the last quarter. Bank of America Corp DE boosted its stake in Kellanova by 21.6% in the 2nd quarter. Bank of America Corp DE now owns 4,055,514 shares of the company’s stock worth $322,535,000 after buying an additional 720,218 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Kellanova by 31.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,854,716 shares of the company’s stock valued at $227,036,000 after acquiring an additional 679,692 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Kellanova by 2.0% in the second quarter. Vanguard Group Inc. now owns 33,356,883 shares of the company’s stock worth $2,652,873,000 after acquiring an additional 661,535 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Performance

Shares of NYSE:K opened at $83.44 on Monday. The business’s 50-day simple moving average is $83.38 and its 200 day simple moving average is $81.44. The company has a market cap of $29.03 billion, a P/E ratio of 22.92, a PEG ratio of 11.61 and a beta of 0.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.68. Kellanova has a one year low of $76.48 and a one year high of $83.65.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Kellanova had a return on equity of 31.73% and a net margin of 10.08%.The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the business earned $0.91 EPS. Kellanova’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. Kellanova’s dividend payout ratio is presently 63.74%.

Analysts Set New Price Targets

A number of research firms have issued reports on K. Weiss Ratings downgraded Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.50.

Kellanova Company Profile

Kellanova (NYSE: K) is a global consumer foods company formed from the reorganization of the historic Kellogg business. The company focuses on the manufacture, marketing and distribution of packaged food products across several categories, with an emphasis on snacks, ready-to-eat cereals, frozen breakfast and other convenience foods. Kellanova’s operations draw on a long consumer-brands heritage and a portfolio designed to reach everyday retail and snack occasions around the world.

Kellanova’s activities include product development, manufacturing, marketing and global supply-chain management for branded food products.