Mirae Asset Global Investments Co. Ltd. Boosts Position in Kellanova (NYSE:K)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kellanova (NYSE:K) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,849 shares of the company’s stock after acquiring an additional 6,731 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Kellanova were worth $2,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CVA Family Office LLC boosted its holdings in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares during the last quarter. Mather Group LLC. grew its holdings in Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the period. Finally, Assetmark Inc. raised its position in Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.2 %

K stock opened at $82.29 on Monday. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.31. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a 50-day simple moving average of $81.21 and a 200-day simple moving average of $79.14. The stock has a market capitalization of $28.37 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Equities analysts forecast that Kellanova will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the transaction, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,031,247 shares of company stock worth $83,724,652. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on K. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. StockNews.com assumed coverage on shares of Kellanova in a report on Saturday. They set a “hold” rating on the stock. Fourteen 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.96.

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.