State of Alaska Department of Revenue Sells 6,695 Shares of Kellanova (NYSE:K)

State of Alaska Department of Revenue lessened its position in shares of Kellanova (NYSE:KFree Report) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,044 shares of the company’s stock after selling 6,695 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kellanova were worth $2,866,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after acquiring an additional 1,130,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kellanova by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock worth $316,323,000 after purchasing an additional 98,294 shares during the last quarter. Beutel Goodman & Co Ltd. grew its position in Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after purchasing an additional 655,686 shares during the last quarter. Norges Bank acquired a new position in Kellanova during the 4th quarter valued at approximately $150,184,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Kellanova by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after buying an additional 9,726 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kellanova

In related news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now owns 26,191 shares in the company, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now directly owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 865,600 shares of company stock valued at $50,941,428. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on K. DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Barclays upped their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Finally, TD Cowen raised their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.83.

Read Our Latest Research Report on Kellanova

Kellanova Stock Down 0.5 %

K opened at $56.38 on Friday. The company has a fifty day moving average of $59.56 and a two-hundred day moving average of $56.93. The stock has a market capitalization of $19.28 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.01 and a beta of 0.34. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $68.61. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62.

Kellanova (NYSE:KGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. On average, research analysts expect that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.97%. Kellanova’s dividend payout ratio is currently 83.90%.

About Kellanova

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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