Kellanova (NYSE:K) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Kellanova (NYSE:KFree Report) by 18.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,003 shares of the company’s stock after purchasing an additional 8,169 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 9.64% of Kellanova worth $3,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CGC Financial Services LLC acquired a new position in shares of Kellanova in the second quarter worth about $27,000. Sandy Spring Bank lifted its stake in shares of Kellanova by 902.5% in the second quarter. Sandy Spring Bank now owns 401 shares of the company’s stock worth $27,000 after acquiring an additional 361 shares in the last quarter. RFP Financial Group LLC acquired a new position in shares of Kellanova in the second quarter worth about $30,000. Oakworth Capital Inc. lifted its stake in shares of 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. Finally, Spotlight Asset Group Inc. acquired a new position in shares of Kellanova in the second quarter worth about $34,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on K shares. JPMorgan Chase & Co. boosted their price target on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday. Barclays boosted their price objective on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Finally, Piper Sandler boosted their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday. Thirteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $61.93.

Read Our Latest Report on K

Kellanova Stock Up 2.2 %

Shares of Kellanova stock opened at $54.65 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The business’s 50 day simple moving average is $54.81 and its 200-day simple moving average is $55.93. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.13 and a beta of 0.39. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30.

Kellanova (NYSE:KGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Kellanova will post 3.58 earnings per share for the current year.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $52.21, for a total transaction of $4,061,938.00. Following the completion of the transaction, the insider now directly owns 53,398,238 shares of the company’s stock, valued at approximately $2,787,922,005.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 700,200 shares of company stock valued at $37,956,286. 1.40% of the stock is owned by corporate insiders.

Kellanova Company Profile

(Free Report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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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