Teacher Retirement System of Texas Takes $209,000 Position in Kellanova (NYSE:K)

Teacher Retirement System of Texas purchased a new position in Kellanova (NYSE:K) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,580 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its position in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares during the period. Geode Capital Management LLC raised its holdings in Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after buying an additional 196,564 shares during the period. Barclays PLC lifted its position in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kellanova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after buying an additional 50,303 shares during the period. Finally, Swiss National Bank boosted its stake in Kellanova by 9.3% during the fourth quarter. Swiss National Bank now owns 886,900 shares of the company’s stock worth $71,812,000 after buying an additional 75,100 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on K. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research report on Friday, March 28th. They issued a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

K stock opened at $82.50 on Thursday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The business has a 50-day moving average price of $82.28 and a 200 day moving average price of $81.38. The company has a market capitalization of $28.48 billion, a P/E ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the completion of the sale, the insider now owns 48,534,944 shares of the company’s stock, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,473,032 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

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.