Kellanova (NYSE:K) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of Kellanova (NYSE:K) by 0.6% in the third quarter, HoldingsChannel.com reports. The firm owned 58,422 shares of the company’s stock after buying an additional 351 shares during the period. Retirement Systems of Alabama’s holdings in Kellanova were worth $4,715,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Kellanova by 18.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 38,964 shares of the company’s stock worth $2,247,000 after buying an additional 5,962 shares in the last quarter. Fifth Third Bancorp boosted its position in Kellanova by 2.8% in the 2nd quarter. Fifth Third Bancorp now owns 17,449 shares of the company’s stock valued at $1,006,000 after buying an additional 474 shares during the period. Family Firm Inc. acquired a new position in shares of Kellanova in the second quarter worth $29,000. Finally, Easterly Investment Partners LLC increased its position in shares of Kellanova by 54.7% during the second quarter. Easterly Investment Partners LLC now owns 174,239 shares of the company’s stock worth $10,050,000 after acquiring an additional 61,614 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total value of $9,249,139.76. Following the sale, the insider now owns 50,139,106 shares of the company’s stock, valued at $4,047,228,636.32. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock valued at $83,327,049 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on Kellanova in a report on Saturday, December 14th. They issued a “hold” rating for the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Friday, November 1st. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

K stock opened at $80.34 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $27.69 billion, a P/E ratio of 27.61, a PEG ratio of 2.59 and a beta of 0.38. The business has a 50 day simple moving average of $80.81 and a 200-day simple moving average of $73.23. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business earned $1.03 EPS. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 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.