Public Employees Retirement System of Ohio Has $7.29 Million Stock Position in Kellanova (NYSE:K)

Public Employees Retirement System of Ohio lessened its stake in shares of Kellanova (NYSE:K - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,071 shares of the company's stock after selling 5,156 shares during the period. Public Employees Retirement System of Ohio's holdings in Kellanova were worth $7,293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC acquired a new position in Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in shares of Kellanova during the 4th quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the sale, the insider now owns 47,618,280 shares in the company, valued at $3,917,079,712.80. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 1,374,996 shares of company stock worth $113,174,775. Insiders own 1.80% of the company's stock.

Kellanova Trading Up 0.1%

Shares of NYSE K traded up $0.10 during trading on Friday, reaching $82.60. The company had a trading volume of 5,559,902 shares, compared to its average volume of 2,765,622. The company's fifty day moving average price is $82.38 and its 200-day moving average price is $81.87. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The stock has a market cap of $28.66 billion, a P/E ratio of 21.34, a PEG ratio of 4.21 and a beta of 0.30. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm posted $1.01 EPS. The company's quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

Wall Street Analysts Forecast Growth

K has been the subject of a number of research analyst reports. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday. Finally, Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average target price of $79.75.

Kellanova 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.