California Public Employees Retirement System Sells 36,593 Shares of Kellanova (NYSE:K)

California Public Employees Retirement System reduced its holdings in Kellanova (NYSE:K) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,189,542 shares of the company’s stock after selling 36,593 shares during the quarter. California Public Employees Retirement System owned about 0.35% of Kellanova worth $96,317,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in K. Independent Advisor Alliance boosted its holdings in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after purchasing an additional 1,019 shares during the period. Toronto Dominion Bank lifted its stake in shares of Kellanova by 5.1% in the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares during the period. Wedmont Private Capital acquired a new stake in Kellanova during the fourth quarter worth about $384,000. Barclays PLC increased its stake in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Finally, Alpine Associates Management Inc. raised its holdings in Kellanova by 93.5% in the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after acquiring an additional 296,150 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on K. StockNews.com initiated coverage on Kellanova in a research report on Friday. They set a “hold” rating on the stock. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the transaction, the insider now owns 47,389,114 shares in the company, valued at $3,906,758,558.16. 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 the SEC website. Insiders sold 1,260,413 shares of company stock valued at $103,473,032 over the last ninety days. 1.80% of the stock is owned by insiders.

Kellanova Trading Down 0.1 %

Shares of K stock opened at $82.43 on Tuesday. The company has a market capitalization of $28.46 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. Kellanova has a 12-month low of $55.01 and a 12-month 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. The firm has a 50-day moving average price of $82.25 and a 200 day moving average price of $81.36.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date was Monday, March 3rd. 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%.

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.