Kentucky Retirement Systems Sells 254 Shares of Kellanova (NYSE:K)

Kentucky Retirement Systems decreased its holdings in Kellanova (NYSE:K) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of K. International Assets Investment Management LLC raised its stake in Kellanova by 7,849.5% in the third quarter. International Assets Investment Management LLC now owns 86,729 shares of the company’s stock worth $7,000,000 after buying an additional 85,638 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Kellanova by 2.7% during the third quarter. IFM Investors Pty Ltd now owns 57,241 shares of the company’s stock worth $4,620,000 after purchasing an additional 1,484 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Kellanova by 2.8% during the third quarter. Assenagon Asset Management S.A. now owns 16,934 shares of the company’s stock worth $1,367,000 after purchasing an additional 457 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Kellanova during the third quarter worth $292,000. Finally, Louisiana State Employees Retirement System increased its position in shares of Kellanova by 1.3% during the third quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the company’s stock worth $1,219,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

NYSE:K opened at $82.63 on Monday. 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 firm has a market cap of $28.48 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 4.21 and a beta of 0.37. The firm’s fifty day moving average is $81.55 and its two-hundred day moving average is $80.76.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s payout ratio is 58.91%.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the sale, the insider now directly owns 49,107,859 shares of the company’s stock, valued at $3,963,004,221.30. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 1,145,830 shares of company stock valued at $93,291,187. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on K shares. StockNews.com started coverage on Kellanova in a research report on Monday. They set a “hold” rating on the stock. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a research report on Tuesday, February 18th. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $77.96.

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.