Kentucky Retirement Systems Sells 191 Shares of Kellanova (NYSE:K)

Kentucky Retirement Systems cut its holdings in Kellanova (NYSE:K) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,838 shares of the company’s stock after selling 191 shares during the period. Kentucky Retirement Systems’ holdings in Kellanova were worth $1,144,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co raised its position in Kellanova by 13.0% in the second quarter. Elo Mutual Pension Insurance Co now owns 25,641 shares of the company’s stock worth $1,479,000 after acquiring an additional 2,942 shares during the period. Blair William & Co. IL raised its position in shares of Kellanova by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 31,407 shares of the company’s stock valued at $1,812,000 after purchasing an additional 1,232 shares during the period. Waterloo Capital L.P. bought a new stake in shares of Kellanova during the 2nd quarter valued at $1,651,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Kellanova by 15.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,285 shares of the company’s stock valued at $2,669,000 after purchasing an additional 6,252 shares during the period. Finally, Excalibur Management Corp raised its position in shares of Kellanova by 13.4% during the 2nd quarter. Excalibur Management Corp now owns 4,526 shares of the company’s stock valued at $261,000 after purchasing an additional 535 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Performance

Kellanova stock opened at $80.81 on Friday. The company’s 50-day moving average price is $72.38 and its 200-day moving average price is $62.99. Kellanova has a twelve month low of $47.63 and a twelve month high of $80.97. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a market cap of $27.63 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. On average, equities research analysts forecast that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.82%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio is presently 85.39%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Tuesday, September 17th. They set a “hold” rating on the stock. Bank of America upgraded shares of Kellanova from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus target price of $74.32.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the transaction, the insider now directly owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now directly owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the transaction, the insider now owns 51,219,838 shares in the company, valued at $2,952,311,462.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 929,366 shares of company stock worth $65,106,291. 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.