Kellanova (NYSE:K) Holdings Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in shares of Kellanova (NYSE:K) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kellanova were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Kellanova by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,273 shares of the company’s stock valued at $3,008,000 after purchasing an additional 324 shares during the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Kellanova in the third quarter valued at approximately $204,000. Chicago Capital LLC acquired a new stake in shares of Kellanova in the third quarter worth $207,000. Northwest Investment Counselors LLC bought a new position in Kellanova during the third quarter worth $218,000. Finally, Foundations Investment Advisors LLC bought a new stake in Kellanova in the 3rd quarter valued at $488,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,260,413 shares of company stock valued at $102,571,264 over the last 90 days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on K. StockNews.com assumed coverage on shares of Kellanova in a research note on Sunday. They issued a “hold” rating for the company. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Kellanova Price Performance

Shares of K opened at $82.26 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.41. The stock has a market cap of $28.35 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.53 and a beta of 0.37. The stock’s 50-day moving average price is $81.37 and its two-hundred day moving average price is $80.02.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities analysts predict that Kellanova will post 3.91 earnings per share for the current year.

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.