Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Holdings in Kellanova (NYSE:K)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Kellanova (NYSE:K - Free Report) by 34.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,169 shares of the company's stock after buying an additional 28,767 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Kellanova were worth $9,082,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department acquired a new position in Kellanova in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock valued at $36,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the transaction, the insider now owns 48,649,527 shares of the company's stock, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $103,290,845. 1.80% of the stock is owned by insiders.

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Analyst Ratings Changes

Several brokerages recently weighed in on K. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com began coverage on Kellanova in a research report on Thursday, March 20th. They set a "hold" rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $77.96.

Kellanova Stock Down 0.1 %

Kellanova stock traded down $0.12 during midday trading on Tuesday, reaching $82.38. The company's stock had a trading volume of 1,734,446 shares, compared to its average volume of 2,545,847. The business has a 50-day simple moving average of $82.18 and a 200-day simple moving average of $81.29. The company has a market cap of $28.44 billion, a P/E ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's dividend payout ratio is presently 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.