State of Tennessee Department of Treasury Has $8.94 Million Holdings in Kellanova (NYSE:K)

State of Tennessee Department of Treasury lowered its stake in shares of Kellanova (NYSE:K - Free Report) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,417 shares of the company's stock after selling 19,746 shares during the quarter. State of Tennessee Department of Treasury's holdings in Kellanova were worth $8,940,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of K. Stonebridge Financial Group LLC bought a new stake in Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new position in Kellanova in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in Kellanova during the fourth quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the fourth quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Trading Down 0.2 %

K stock traded down $0.19 during midday trading on Monday, reaching $82.43. The stock had a trading volume of 1,528,378 shares, compared to its average volume of 2,739,109. 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 has a twelve month low of $55.96 and a twelve month high of $83.22. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.34. The business has a fifty day simple moving average of $82.39 and a two-hundred day simple moving average of $81.60.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly 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 net margin of 10.53% and a return on equity of 37.25%. As a group, research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the transaction, the insider now owns 48,191,195 shares in the company, valued at $3,962,761,964.85. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,260,413 shares of company stock worth $103,737,719. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a report on Monday, April 21st. They set a "buy" rating for the company. Thirteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $77.96.

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.