Louisiana State Employees Retirement System decreased its position in shares of Kellanova (NYSE:K – Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kellanova were worth $1,174,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in K. Quent Capital LLC increased its holdings in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after acquiring an additional 140 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the fourth quarter worth about $27,000. Savant Capital LLC lifted its holdings in Kellanova by 5.4% during the fourth quarter. Savant Capital LLC now owns 14,778 shares of the company’s stock valued at $1,197,000 after purchasing an additional 763 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Kellanova by 20.9% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,465 shares of the company’s stock worth $281,000 after purchasing an additional 598 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Kellanova by 13.4% during the fourth quarter. Apollon Wealth Management LLC now owns 6,388 shares of the company’s stock worth $517,000 after buying an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on K shares. StockNews.com began coverage on Kellanova in a research note on Sunday. They set a “hold” rating on the stock. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.96.
Kellanova Stock Performance
NYSE:K opened at $82.26 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.53. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.41. The firm has a 50-day moving average of $81.37 and a two-hundred day moving average of $80.02. The stock has a market cap of $28.35 billion, a P/E ratio of 21.25, a PEG ratio of 2.53 and a beta of 0.37.
Kellanova (NYSE:K – Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. On average, research analysts expect that Kellanova will post 3.91 earnings per share for the current fiscal year.
Insider Activity at Kellanova
In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 1,260,413 shares of company stock valued at $102,571,264. Corporate insiders own 1.80% of the company’s stock.
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.
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