Public Employees Retirement Association of Colorado Raises Holdings in Kellanova (NYSE:K)

Public Employees Retirement Association of Colorado grew its position in Kellanova (NYSE:KFree Report) by 205.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,234 shares of the company’s stock after buying an additional 18,988 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Kellanova were worth $1,579,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Kellanova during the 4th quarter worth $150,184,000. Invesco Ltd. increased its position in Kellanova by 29.4% during the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after buying an additional 1,132,485 shares in the last quarter. Anchor Capital Advisors LLC acquired a new position in Kellanova during the 4th quarter valued at about $38,939,000. Beutel Goodman & Co Ltd. increased its position in Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after buying an additional 655,686 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in Kellanova during the 4th quarter valued at about $35,372,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Piper Sandler upped their target price on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their price objective on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. TD Cowen increased their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Barclays increased their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.85.

Read Our Latest Research Report on Kellanova

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total transaction of $4,115,620.00. Following the transaction, the insider now owns 52,309,038 shares in the company, valued at $2,767,148,110.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $52.90, for a total value of $4,115,620.00. Following the transaction, the insider now owns 52,309,038 shares in the company, valued at $2,767,148,110.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 865,600 shares of company stock worth $50,366,486. 1.80% of the stock is owned by corporate insiders.

Kellanova Stock Down 0.9 %

Kellanova stock opened at $59.09 on Tuesday. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.12 and a beta of 0.35. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The business’s 50-day moving average price is $59.29 and its 200 day moving average price is $56.38. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:KGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, sell-side analysts anticipate that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.79%. Kellanova’s dividend payout ratio is currently 83.90%.

Kellanova Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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