State of Tennessee Department of Treasury Has $8.94 Million Stock Holdings in Kellanova (NYSE:K)

State of Tennessee Department of Treasury lowered its stake in Kellanova (NYSE:K - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,417 shares of the company's stock after selling 19,746 shares during the period. State of Tennessee Department of Treasury's holdings in Kellanova were worth $8,940,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

K has been the subject of several recent analyst reports. Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com started coverage on Kellanova in a research note on Monday, April 21st. They set a "buy" rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $77.96.

Insider Buying and Selling 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 Monday, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the sale, the insider now owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,801,886 in the last three months. Corporate insiders own 1.80% of the company's stock.

Kellanova Trading Up 0.0 %

K stock traded up $0.01 during trading on Tuesday, reaching $82.45. 440,399 shares of the stock traded hands, compared to its average volume of 2,730,139. The firm has a market capitalization of $28.46 billion, a PE ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.34. 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 business's 50 day moving average price is $82.39 and its 200-day moving average price is $81.61. Kellanova has a 52-week low of $55.96 and a 52-week high of $83.22.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share 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%. As a group, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed 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 yield of 2.77%. Kellanova's payout ratio is currently 58.91%.

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.