Kentucky Retirement Systems Has $1.48 Million Position in Kellanova (NYSE:K)

Kentucky Retirement Systems reduced its holdings in shares of Kellanova (NYSE:K) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,897 shares of the company’s stock after selling 539 shares during the period. Kentucky Retirement Systems’ holdings in Kellanova were worth $1,476,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in K. Grove Bank & Trust bought a new position in Kellanova during the 1st quarter valued at about $25,000. BankPlus Trust Department bought a new position in Kellanova during the 4th quarter valued at about $28,000. Rialto Wealth Management LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC bought a new position in shares of Kellanova in the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Kellanova by 64.8% in 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 last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on K. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank Of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price objective on the stock in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.75.

Kellanova Price Performance

Shares of K opened at $78.55 on Wednesday. The firm has a market capitalization of $27.25 billion, a PE ratio of 19.84, a PEG ratio of 4.12 and a beta of 0.30. The company’s 50-day moving average is $81.80 and its 200-day moving average is $81.82. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Kellanova’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.90%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $78.42, for a total value of $8,985,598.86. Following the completion of the transaction, the insider now owns 46,128,701 shares of the company’s stock, valued at approximately $3,617,412,732.42. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 1,374,996 shares of company stock worth $112,416,235. Corporate insiders own 1.80% of the company’s stock.

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.