Kellanova (NYSE:K) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System raised its position in Kellanova (NYSE:K) by 1.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,100 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Kellanova were worth $1,219,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of K. Blue Trust Inc. lifted its position in shares of Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova during the second quarter valued at $29,000. CVA Family Office LLC lifted its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. BNP Paribas acquired a new stake in shares of Kellanova in the first quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the transaction, the insider now owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at approximately $4,051,249,113.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total transaction of $6,227,890.00. Following the completion of the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at $4,062,780,691.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,227,864 shares of company stock worth $98,438,243 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Kellanova Price Performance

K stock opened at $80.61 on Friday. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.58 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $80.63 and a 200-day moving average of $68.27. Kellanova has a 12-month low of $50.81 and a 12-month high of $81.26.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts expect that Kellanova will post 3.71 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on K shares. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $70.00 in a report on Friday, August 2nd. Stifel Nicolaus increased their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday, October 27th. They set a “hold” rating on the stock. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Sixteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $74.96.

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.