State of Alaska Department of Revenue Sells 12,590 Shares of Kellanova (NYSE:K)

State of Alaska Department of Revenue trimmed its position in Kellanova (NYSE:KFree Report) by 18.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,739 shares of the company’s stock after selling 12,590 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kellanova were worth $3,171,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CGC Financial Services LLC purchased a new position in Kellanova in the second quarter worth about $27,000. Oakworth Capital Inc. grew its position in Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares in the last quarter. Norwood Financial Corp grew its position in Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after acquiring an additional 225 shares in the last quarter. Baker Avenue Asset Management LP boosted its position in shares of Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after buying an additional 341 shares during the period. Finally, Cowa LLC purchased a new position in shares of Kellanova during the first quarter valued at approximately $33,000. 83.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Stifel Nicolaus boosted their target price on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. DA Davidson initiated coverage on Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 target price for the company. Finally, Citigroup initiated coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.27.

Check Out Our Latest Analysis on Kellanova

Kellanova Stock Performance

Shares of NYSE:K opened at $56.59 on Thursday. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 2.13 and a beta of 0.40. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $55.08 and a 200 day moving average of $54.20.

Kellanova (NYSE:KGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, sell-side analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is presently 81.45%.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $56.49, for a total transaction of $4,394,922.00. Following the transaction, the insider now directly owns 53,009,238 shares of the company’s stock, valued at $2,994,491,854.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 933,600 shares of company stock valued at $51,183,842. Corporate insiders own 1.80% of the company’s stock.

Kellanova Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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