Alaska Permanent Fund Corp Grows Stock Position in Kellanova (NYSE:K)

Alaska Permanent Fund Corp grew its position in shares of Kellanova (NYSE:K) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,460 shares of the company’s stock after buying an additional 2,310 shares during the period. Alaska Permanent Fund Corp owned 0.06% of Kellanova worth $10,760,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its holdings in shares of Kellanova by 7.0% in the fourth quarter. NewSquare Capital LLC now owns 117,794 shares of the company’s stock worth $6,484,000 after buying an additional 7,670 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Kellanova in the fourth quarter worth $160,000. Linden Thomas Advisory Services LLC raised its position in shares of Kellanova by 2.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 24,129 shares of the company’s stock worth $1,349,000 after buying an additional 647 shares in the last quarter. California Public Employees Retirement System increased its stake in Kellanova by 0.9% in the 4th quarter. California Public Employees Retirement System now owns 1,617,857 shares of the company’s stock worth $90,454,000 after acquiring an additional 13,771 shares during the last quarter. Finally, Significant Wealth Partners LLC purchased a new stake in shares of Kellanova in the 4th quarter valued at about $348,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Kellanova Stock Performance

K traded down $0.03 during mid-day trading on Thursday, reaching $58.72. 69,867 shares of the company traded hands, compared to its average volume of 3,058,515. The stock has a market capitalization of $20.07 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.23 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The company’s fifty day moving average price is $55.85 and its 200-day moving average price is $54.19. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS. On average, sell-side analysts expect that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $53.62, for a total transaction of $4,171,636.00. Following the completion of the transaction, the insider now owns 52,698,038 shares of the company’s stock, valued at approximately $2,825,668,797.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 933,600 shares of company stock valued at $51,632,748 in the last 90 days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on K shares. DA Davidson assumed coverage on Kellanova in a research note on Friday, March 1st. They issued a “buy” rating and a $67.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Piper Sandler boosted their target price on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $62.27.

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.