Louisiana State Employees Retirement System Takes $889,000 Position in Kellanova (NYSE:K)

Louisiana State Employees Retirement System purchased a new stake in Kellanova (NYSE:K - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,900 shares of the company's stock, valued at approximately $889,000.

A number of other hedge funds have also modified their holdings of the business. Invesco Ltd. lifted its holdings in Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company's stock valued at $296,971,000 after purchasing an additional 1,132,485 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Kellanova by 27.4% during the third quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company's stock valued at $291,061,000 after buying an additional 1,051,922 shares during the period. Deutsche Bank AG boosted its position in Kellanova by 27.4% during the third quarter. Deutsche Bank AG now owns 1,607,621 shares of the company's stock worth $95,670,000 after acquiring an additional 345,830 shares during the last quarter. Northern Trust Corp grew its stake in Kellanova by 8.7% in the 3rd quarter. Northern Trust Corp now owns 4,116,944 shares of the company's stock worth $244,999,000 after acquiring an additional 328,658 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Kellanova by 1,562.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,931 shares of the company's stock valued at $18,670,000 after acquiring an additional 313,848 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Performance

K stock traded down $0.72 during trading on Friday, hitting $57.73. 4,422,752 shares of the company's stock traded hands, compared to its average volume of 3,098,416. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The stock has a fifty day moving average price of $55.96 and a two-hundred day moving average price of $54.27. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.25 and a beta of 0.40.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, equities analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova's payout ratio is 81.45%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on K. DA Davidson assumed coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a "buy" rating and a $67.00 target price on the stock. Barclays lifted their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Monday, February 12th. Citigroup assumed coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a "neutral" rating and a $57.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kellanova presently has a consensus rating of "Hold" and a consensus price target of $62.27.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the sale, the insider now owns 52,698,038 shares in the company, valued at approximately $2,825,668,797.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 933,600 shares of company stock valued at $51,632,748. 1.80% of the stock is owned by insiders.

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.