Mutual of America Capital Management LLC Has $2.45 Million Stock Position in Kellanova $K

Mutual of America Capital Management LLC lowered its stake in shares of Kellanova (NYSE:K) by 1.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 30,844 shares of the company’s stock after selling 440 shares during the period. Mutual of America Capital Management LLC’s holdings in Kellanova were worth $2,453,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chevy Chase Trust Holdings LLC boosted its holdings in Kellanova by 0.7% during the second quarter. Chevy Chase Trust Holdings LLC now owns 142,613 shares of the company’s stock worth $11,342,000 after purchasing an additional 1,007 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Kellanova by 16.7% during the second quarter. Rosenberg Matthew Hamilton now owns 1,590 shares of the company’s stock worth $126,000 after purchasing an additional 228 shares during the last quarter. TD Asset Management Inc boosted its holdings in Kellanova by 0.6% during the second quarter. TD Asset Management Inc now owns 99,812 shares of the company’s stock worth $7,938,000 after purchasing an additional 611 shares during the last quarter. Welch Group LLC boosted its holdings in Kellanova by 5.3% during the second quarter. Welch Group LLC now owns 5,083 shares of the company’s stock worth $404,000 after purchasing an additional 257 shares during the last quarter. Finally, CWM LLC boosted its holdings in Kellanova by 3.7% during the second quarter. CWM LLC now owns 14,288 shares of the company’s stock worth $1,136,000 after purchasing an additional 511 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Kellanova in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price objective on the stock. Wall Street Zen lowered shares of Kellanova from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Weiss Ratings raised shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.38.

Kellanova Stock Performance

Kellanova stock opened at $83.01 on Friday. The firm’s 50 day simple moving average is $80.53 and its 200 day simple moving average is $80.85. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $28.86 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. Kellanova has a 1-year low of $76.48 and a 1-year high of $83.22.

Kellanova (NYSE:K) last posted its earnings results on Thursday, July 31st. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company posted $1.01 EPS. The business’s revenue was up .3% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $79.55, for a total value of $9,116,350.45. Following the completion of the sale, the insider owned 45,097,438 shares of the company’s stock, valued at approximately $3,587,501,192.90. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 458,348 shares of company stock valued at $36,597,937. 1.80% of the stock is currently owned by corporate insiders.

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.