Public Employees Retirement Association of Colorado Has $2.23 Million Stake in Kellanova (NYSE:K)

Public Employees Retirement Association of Colorado lowered its position in shares of Kellanova (NYSE:K) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,590 shares of the company’s stock after selling 644 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Kellanova were worth $2,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Kellanova in the fourth quarter worth $285,126,000. Franklin Resources Inc. lifted its holdings in Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after buying an additional 2,313,047 shares during the period. FIL Ltd grew its position in shares of Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Barclays PLC increased its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Kellanova by 107.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,262,032 shares of the company’s stock worth $102,187,000 after acquiring an additional 653,504 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Kellanova in a research report on Monday, April 21st. They set a “buy” rating for the company. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen equities 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 has a consensus rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Performance

Shares of K opened at $82.60 on Wednesday. The stock has a 50-day moving average of $82.40 and a 200-day moving average of $81.62. Kellanova has a one year low of $55.96 and a one year high of $83.22. 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 company has a market cap of $28.51 billion, a PE ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities research analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the transaction, the insider now owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,260,413 shares of company stock worth $103,801,886 over the last three months. 1.80% of the stock is currently owned by insiders.

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.