California Public Employees Retirement System Cuts Position in Kellanova (NYSE:K)

California Public Employees Retirement System reduced its position in Kellanova (NYSE:K - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,189,542 shares of the company's stock after selling 36,593 shares during the quarter. California Public Employees Retirement System owned approximately 0.35% of Kellanova worth $96,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Kellanova by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after buying an additional 281,137 shares in the last quarter. State Street Corp boosted its position in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company's stock worth $1,188,489,000 after acquiring an additional 731,273 shares during the last quarter. Geode Capital Management LLC grew its stake in Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company's stock valued at $541,052,000 after acquiring an additional 196,564 shares in the last quarter. Norges Bank bought a new stake in Kellanova in the 4th quarter valued at $285,126,000. Finally, Barclays PLC lifted its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares of the company's stock, valued at $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 1,260,413 shares of company stock valued at $103,473,032. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Kellanova in a report on Friday, March 28th. They issued a "hold" rating on the stock. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kellanova has a consensus rating of "Hold" and an average price target of $77.96.

Kellanova Trading Up 0.1 %

Shares of K traded up $0.07 during mid-day trading on Thursday, reaching $82.52. 2,143,496 shares of the company's stock traded hands, compared to its average volume of 2,671,937. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock's 50-day moving average is $82.28 and its two-hundred day moving average is $81.38. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The stock has a market cap of $28.49 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova's dividend payout ratio is currently 58.91%.

Kellanova Company Profile

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.