Kellanova (NYSE:K) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in Kellanova (NYSE:K) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,511 shares of the company’s stock after selling 459 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Kellanova were worth $1,175,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of K. Xponance Inc. increased its stake in shares of Kellanova by 3.6% during the fourth quarter. Xponance Inc. now owns 38,436 shares of the company’s stock worth $3,112,000 after acquiring an additional 1,347 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Kellanova during the fourth quarter worth about $6,233,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the fourth quarter worth about $32,000. Parallel Advisors LLC increased its stake in shares of Kellanova by 7.1% during the fourth quarter. Parallel Advisors LLC now owns 5,417 shares of the company’s stock worth $439,000 after acquiring an additional 360 shares during the period. Finally, Cibc World Markets Corp increased its stake in shares of Kellanova by 538.6% during the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after acquiring an additional 493,976 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Up 0.1 %

Shares of NYSE K opened at $82.40 on Friday. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The company has a market capitalization of $28.44 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. 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 firm’s 50-day moving average is $82.14 and its two-hundred day moving average is $81.25.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed 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. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on K. Royal Bank of Canada lowered 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 shares of Kellanova in a report on Thursday. They set a “hold” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the transaction, the insider now owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 1,374,996 shares of company stock valued at $112,530,818. Company insiders own 1.80% of the company’s stock.

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.