Public Employees Retirement System of Ohio Sells 4,743 Shares of Kellanova (NYSE:K)

Public Employees Retirement System of Ohio decreased its holdings in shares of Kellanova (NYSE:K) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 95,227 shares of the company’s stock after selling 4,743 shares during the period. Public Employees Retirement System of Ohio’s holdings in Kellanova were worth $7,686,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. MCF Advisors LLC lifted its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Blue Trust Inc. boosted its position in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the last quarter. Family Firm Inc. bought a new position in shares of Kellanova during the 2nd quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $80.57, for a total value of $9,231,952.31. Following the completion of the transaction, the insider now owns 50,024,523 shares in the company, valued at $4,030,475,818.11. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,145,830 shares of company stock valued at $92,568,168 over the last three months. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on K shares. StockNews.com began coverage on shares of Kellanova in a research report on Friday, December 6th. They set a “hold” rating on the stock. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Barclays boosted their price target on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler increased their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Fifteen investment 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, Kellanova presently has an average rating of “Hold” and an average target price of $76.35.

Kellanova Price Performance

Shares of NYSE:K opened at $80.71 on Friday. The firm has a market capitalization of $27.82 billion, a PE ratio of 27.74, a P/E/G ratio of 2.59 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $80.82 and a two-hundred day moving average price of $72.45. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm earned $1.03 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Kellanova will post 3.75 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

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.