Alaska Permanent Fund Corp Has $10.76 Million Stock Position in Kellanova (NYSE:K)

Alaska Permanent Fund Corp boosted its position in Kellanova (NYSE:K) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 192,460 shares of the company’s stock after purchasing an additional 2,310 shares during the period. Alaska Permanent Fund Corp’s holdings in Kellanova were worth $10,760,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of K. Comerica Bank acquired a new stake in Kellanova during the third quarter worth approximately $4,974,000. Raymond James & Associates lifted its position in Kellanova by 11.9% during the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after acquiring an additional 42,656 shares during the last quarter. Soltis Investment Advisors LLC raised its position in shares of Kellanova by 25.7% in the third quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after buying an additional 9,434 shares in the last quarter. Savoir Faire Capital Management L.P. acquired a new stake in shares of Kellanova in the third quarter valued at approximately $3,248,000. Finally, CX Institutional raised its position in shares of Kellanova by 52.9% in the fourth quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after buying an additional 20,752 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the completion of the sale, the insider now directly owns 51,920,038 shares of the company’s stock, valued at $2,998,901,394.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 933,600 shares of company stock valued at $51,632,748 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Kellanova Trading Down 0.1 %

K stock traded down $0.03 during midday trading on Thursday, hitting $58.72. The stock had a trading volume of 69,867 shares, compared to its average volume of 3,058,515. The firm has a market cap of $20.07 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The business has a fifty day moving average price of $55.85 and a two-hundred day moving average price of $54.19.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is presently 81.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Barclays boosted their target price on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Citigroup started coverage on shares of Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. Finally, DA Davidson started coverage on shares of Kellanova in a research note on Friday, March 1st. They set a “buy” rating and a $67.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.27.

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.