Retirement Systems of Alabama Trims Stake in Kellanova (NYSE:K)

Retirement Systems of Alabama lessened its holdings in Kellanova (NYSE:K) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,025 shares of the company’s stock after selling 1,478 shares during the period. Retirement Systems of Alabama owned approximately 0.11% of Kellanova worth $21,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of K. Oakworth Capital Inc. increased its holdings in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after buying an additional 341 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Kellanova by 339.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,201 shares of the company’s stock worth $67,000 after acquiring an additional 928 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in Kellanova by 1,450.0% during the 3rd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,550 shares of the company’s stock valued at $92,000 after acquiring an additional 1,450 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Stock Up 0.8 %

Shares of NYSE:K opened at $58.21 on Tuesday. The firm has a 50 day simple moving average of $56.02 and a 200-day simple moving average of $54.40. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $19.89 billion, a PE ratio of 21.17, a P/E/G ratio of 2.21 and a beta of 0.40.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the business earned $0.94 EPS. Kellanova’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts predict that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a $0.56 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.85%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on K. Stifel Nicolaus boosted their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Barclays raised their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. DA Davidson initiated coverage on shares of Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 price target for the company. Wells Fargo & Company increased their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, Piper Sandler boosted their target price on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.27.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $58.00, for a total value of $4,512,400.00. Following the completion of the sale, the insider now owns 51,842,238 shares in the company, valued at $3,006,849,804. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 933,600 shares of company stock worth $51,891,044 in the last quarter. 1.80% of the stock is owned by insiders.

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.