Kentucky Retirement Systems Insurance Trust Fund Sells 548 Shares of Kellanova (NYSE:K)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Kellanova (NYSE:K) by 6.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,943 shares of the company’s stock after selling 548 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kellanova were worth $641,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Kellanova by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock valued at $150,909,000 after acquiring an additional 277,171 shares during the period. Yacktman Asset Management LP lifted its position in Kellanova by 0.5% during the second quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after purchasing an additional 10,510 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in Kellanova in the 2nd quarter valued at about $88,065,000. Finally, TD Asset Management Inc raised its position in shares of Kellanova by 3.0% in the 2nd quarter. TD Asset Management Inc now owns 1,391,196 shares of the company’s stock valued at $80,244,000 after buying an additional 40,406 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

K has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target for the company. Stifel Nicolaus raised their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Friday, November 1st. Finally, Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $70.00 in a research note on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.35.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.62, for a total transaction of $6,272,236.00. Following the completion of the sale, the insider now owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The trade was a 0.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 1,072,264 shares of company stock valued at $86,452,375 in the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Trading Up 0.0 %

Shares of K stock opened at $80.60 on Tuesday. The company has a market cap of $27.78 billion, a P/E ratio of 27.70, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The stock has a 50 day simple moving average of $80.72 and a two-hundred day simple moving average of $70.15. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

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

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is currently 78.35%.

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.