Kellanova (NYSE:K) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in Kellanova (NYSE:K) by 26.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,947 shares of the company’s stock after acquiring an additional 2,300 shares during the period. Public Sector Pension Investment Board’s holdings in Kellanova were worth $884,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CVA Family Office LLC raised its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares in the last quarter. MCF Advisors LLC lifted its position in Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. purchased a new stake in shares of Kellanova in the second quarter valued at about $29,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price objective on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Piper Sandler boosted their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. StockNews.com assumed coverage on Kellanova in a research report on Friday. They issued a “hold” rating for the company. Finally, DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Trading Down 0.0 %

Shares of K opened at $80.74 on Friday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.34. The company has a market capitalization of $27.83 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.58 and a beta of 0.38. The stock has a fifty day moving average of $80.82 and a two-hundred day moving average of $71.97. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts forecast that Kellanova will post 3.75 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is presently 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at approximately $4,062,201,136.80. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,145,830 shares of company stock worth $92,516,606 over the last three months. 1.80% of the stock is owned by insiders.

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.