Kellanova (NYSE:K) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Kellanova (NYSE:K) by 5.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 200,557 shares of the company’s stock after selling 12,600 shares during the period. New York State Common Retirement Fund’s holdings in Kellanova were worth $16,239,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Toronto Dominion Bank increased its stake in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova during the 4th quarter worth about $384,000. Barclays PLC increased its position in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Kellanova in the third quarter valued at approximately $4,211,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.2 %

NYSE:K opened at $82.63 on Monday. The stock has a market cap of $28.48 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. Kellanova has a one year low of $52.46 and a one year high of $82.72. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The business’s 50-day simple moving average is $81.55 and its 200 day simple moving average is $80.76.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Finally, StockNews.com initiated coverage on Kellanova in a research report on Monday. They issued a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.96.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the transaction, the insider now owns 49,107,859 shares of the company’s stock, valued at $3,963,004,221.30. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $93,291,187 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.