Kellanova (NYSE:K) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in Kellanova (NYSE:K) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 18,436 shares of the company’s stock after selling 254 shares during the period. Kentucky Retirement Systems’ holdings in Kellanova were worth $1,493,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after buying an additional 196,564 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 buying an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after buying an additional 35,268 shares during the last quarter. Finally, Ilex Capital Partners UK LLP increased its holdings in shares of Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after buying an additional 632,510 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $82.25, for a total value of $9,424,451.75. Following the transaction, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 1,145,830 shares of company stock worth $93,291,187 in the last quarter. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Royal Bank of Canada raised 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 report on Tuesday, February 18th. Finally, StockNews.com initiated coverage on shares of Kellanova in a research report on Monday. They set a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.96.

Kellanova Price Performance

Shares of K opened at $82.63 on Monday. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.72. The stock has a market cap of $28.48 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a fifty day moving average price of $81.55 and a 200 day moving average price of $80.76.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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 anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 is presently 58.91%.

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.