Kentucky Retirement Systems Has $1.51 Million Stake in Kellanova (NYSE:K)

Kentucky Retirement Systems decreased its holdings in shares of Kellanova (NYSE:K) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,690 shares of the company’s stock after selling 1,148 shares during the period. Kentucky Retirement Systems’ holdings in Kellanova were worth $1,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of K. Blue Trust Inc. raised its position in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. purchased a new position in Kellanova in the second quarter valued at approximately $29,000. CVA Family Office LLC grew its stake in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. boosted its position in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Finally, MCF Advisors LLC boosted its holdings in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Performance

Shares of K opened at $80.60 on Tuesday. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market cap of $27.78 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.59 and a beta of 0.39. The business’s 50 day moving average price is $80.72 and its 200-day moving average price is $70.15.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities research analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Analysts Set New Price Targets

A number of research firms recently weighed in on K. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Piper Sandler boosted their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group started coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Kellanova has an average rating of “Hold” and an average price target of $76.35.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 1,072,264 shares of company stock worth $86,452,375. Corporate insiders own 1.80% of the company’s stock.

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.