Teachers Retirement System of The State of Kentucky Lowers Stake in Kellanova (NYSE:K)

Teachers Retirement System of The State of Kentucky lessened its stake in Kellanova (NYSE:K) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,467 shares of the company’s stock after selling 528 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Kellanova were worth $1,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Kellanova by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after purchasing an additional 98,294 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in shares of Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after acquiring an additional 655,686 shares in the last quarter. Northern Trust Corp lifted its stake in Kellanova by 8.7% in the third 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. Norges Bank bought a new position in Kellanova during the 4th quarter worth about $150,184,000. Finally, Dimensional Fund Advisors LP increased its position in Kellanova by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock valued at $124,893,000 after purchasing an additional 9,726 shares during the period. Institutional investors own 83.87% of the company’s stock.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.34, for a total value of $4,461,052.00. Following the sale, the insider now owns 52,153,438 shares in the company, valued at $2,990,478,134.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.34, for a total transaction of $4,461,052.00. Following the completion of the transaction, the insider now owns 52,153,438 shares of the company’s stock, valued at $2,990,478,134.92. The disclosure for this sale can be found here. Insiders have sold a total of 787,800 shares of company stock worth $46,428,250 over the last quarter. Insiders own 1.80% of the company’s stock.

Kellanova Stock Down 0.4 %

K stock opened at $57.48 on Monday. The stock has a market capitalization of $19.65 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 2.05 and a beta of 0.35. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $59.55 and a 200 day moving average of $56.73.

Kellanova (NYSE:K) last released its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. Sell-side analysts forecast that Kellanova will post 3.61 earnings per share for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of recent research reports. TD Cowen increased their price objective on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Barclays boosted their price target on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Finally, DA Davidson raised their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $61.83.

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.