Kentucky Retirement Systems Insurance Trust Fund Buys 1,164 Shares of Kellanova (NYSE:K)

Kentucky Retirement Systems Insurance Trust Fund raised its stake in Kellanova (NYSE:K) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,107 shares of the company’s stock after acquiring an additional 1,164 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kellanova were worth $737,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Westchester Capital Management LLC acquired a new position in shares of Kellanova in the third quarter valued at about $107,795,000. Barclays PLC grew its position 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 purchasing an additional 1,033,383 shares in the last quarter. State Street Corp increased its holdings in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares during the period. Ilex Capital Partners UK LLP raised its position in shares of Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after buying an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas bought a new stake in shares of Kellanova in the fourth quarter valued at approximately $29,595,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.40 on Thursday. The company’s 50 day moving average price is $81.44 and its two-hundred day moving average price is $80.49. The firm has a market capitalization of $28.40 billion, a P/E ratio of 21.29, a P/E/G 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. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.49.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities analysts forecast that Kellanova will post 3.92 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $80.70, for a total value of $9,246,848.10. Following the completion of the sale, the insider now directly owns 49,107,859 shares in the company, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,145,830 shares of company stock valued at $93,291,187 over the last quarter. 1.80% of the stock is owned by company insiders.

Kellanova 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.