Kellanova (NYSE:K) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Kellanova (NYSE:K) by 34.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,169 shares of the company’s stock after purchasing an additional 28,767 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Kellanova were worth $9,082,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. grew its holdings in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Stock Performance

K opened at $82.40 on Friday. The stock has a market cap of $28.44 billion, a P/E ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. 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 stock’s 50 day simple moving average is $82.14 and its 200 day simple moving average is $81.25. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22.

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

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

Several research firms recently commented on K. StockNews.com began coverage on Kellanova in a report on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $82.31, for a total value of $9,431,326.73. Following the transaction, the insider now directly owns 47,503,697 shares of the company’s stock, valued at approximately $3,910,029,300.07. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,374,996 shares of company stock valued at $112,530,818. 1.80% of the stock is owned by corporate 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.