New York State Teachers Retirement System Sells 13,302 Shares of Kellanova (NYSE:K)

New York State Teachers Retirement System decreased its stake in shares of Kellanova (NYSE:K - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 187,034 shares of the company's stock after selling 13,302 shares during the quarter. New York State Teachers Retirement System owned 0.05% of Kellanova worth $15,428,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Kellanova in the fourth quarter worth $285,126,000. Franklin Resources Inc. raised its stake in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after buying an additional 2,313,047 shares in the last quarter. FIL Ltd raised its stake in shares of Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after buying an additional 1,542,000 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Kellanova by 136.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after acquiring an additional 1,006,100 shares during the period. Finally, TIG Advisors LLC boosted its position in shares of Kellanova by 76.5% during the 4th quarter. TIG Advisors LLC now owns 1,878,275 shares of the company's stock valued at $152,084,000 after acquiring an additional 813,901 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price objective for the company in a research note on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $79.75.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $78.42, for a total value of $8,985,598.86. Following the completion of the transaction, the insider directly owned 46,128,701 shares in the company, valued at approximately $3,617,412,732.42. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,374,996 shares of company stock worth $112,064,466 in the last 90 days. Insiders own 1.80% of the company's stock.

Kellanova Trading Up 0.1%

Shares of NYSE K opened at $79.96 on Thursday. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22. The firm has a market capitalization of $27.74 billion, a P/E ratio of 20.19, a P/E/G ratio of 4.18 and a beta of 0.28. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52. The company's 50 day simple moving average is $81.41 and its 200 day simple moving average is $81.75.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. On average, analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova's dividend payout ratio is presently 57.58%.

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.

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