Vestcor Inc Acquires 51,848 Shares of Kellanova (NYSE:K)

Vestcor Inc boosted its holdings in shares of Kellanova (NYSE:K) by 30.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,810 shares of the company’s stock after acquiring an additional 51,848 shares during the period. Vestcor Inc owned about 0.07% of Kellanova worth $18,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in K. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Kellanova in the 4th quarter valued at approximately $32,000. First Horizon Advisors Inc. raised its position in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in shares of Kellanova in the 4th quarter valued at approximately $43,000. 83.87% of the stock is currently owned by institutional investors.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 1,145,830 shares of company stock valued at $93,673,894. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Kellanova stock opened at $82.29 on Thursday. The company’s fifty day moving average price is $82.00 and its 200 day moving average price is $81.17. Kellanova has a 1 year low of $52.46 and a 1 year high of $83.22. The stock has a market capitalization of $28.41 billion, a P/E ratio of 21.26, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

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

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Analyst Ratings Changes

A number of equities analysts have issued reports on K shares. StockNews.com started coverage on shares of Kellanova in a research report on Wednesday. They set a “hold” rating for the company. Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.96.

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.