Kentucky Retirement Systems Insurance Trust Fund Sells 1,484 Shares of Kellanova (NYSE:K)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Kellanova (NYSE:K) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,623 shares of the company’s stock after selling 1,484 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kellanova were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. Principal Securities Inc. lifted its holdings in shares of Kellanova by 61.0% during the 4th quarter. Principal Securities Inc. now owns 1,663 shares of the company’s stock worth $135,000 after acquiring an additional 630 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in shares of Kellanova by 16.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,985 shares of the company’s stock worth $647,000 after acquiring an additional 1,114 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% during the 4th 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. Y Intercept Hong Kong Ltd bought a new position in Kellanova in the 4th quarter valued at approximately $265,000. Finally, IFP Advisors Inc boosted its position in Kellanova by 146.8% in the fourth quarter. IFP Advisors Inc now owns 41,354 shares of the company’s stock valued at $3,348,000 after buying an additional 24,597 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on K shares. Wall Street Zen cut shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 target price on the stock in a research note on Thursday, May 29th. Finally, Royal Bank Of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.75.

Kellanova Price Performance

Shares of NYSE:K opened at $78.55 on Wednesday. The firm has a market cap of $27.25 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 4.12 and a beta of 0.30. The firm’s fifty day moving average is $81.80 and its 200-day moving average is $81.82. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. Kellanova’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $82.44, for a total value of $9,446,222.52. Following the transaction, the insider now owns 47,389,114 shares in the company, valued at $3,906,758,558.16. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 1,374,996 shares of company stock worth $112,416,235. Company insiders own 1.80% of the company’s stock.

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.