Kellanova (NYSE:K) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in shares of Kellanova (NYSE:K - Free Report) by 1,462.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,313 shares of the company's stock after purchasing an additional 37,733 shares during the period. Teacher Retirement System of Texas' holdings in Kellanova were worth $3,325,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in Kellanova by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company's stock worth $860,000 after purchasing an additional 132 shares during the period. OneAscent Financial Services LLC increased its holdings in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company's stock worth $268,000 after purchasing an additional 149 shares during the period. Legacy Advisors LLC increased its holdings in Kellanova by 7.1% during the 1st quarter. Legacy Advisors LLC now owns 2,687 shares of the company's stock worth $222,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC increased its holdings in Kellanova by 2.8% during the 1st quarter. GAMMA Investing LLC now owns 6,889 shares of the company's stock worth $568,000 after purchasing an additional 186 shares during the period. Finally, Humankind Investments LLC increased its holdings in Kellanova by 3.9% during the 4th quarter. Humankind Investments LLC now owns 5,117 shares of the company's stock worth $414,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Stock Performance

NYSE:K traded down $0.24 during mid-day trading on Friday, reaching $79.43. 2,437,915 shares of the stock were exchanged, compared to its average volume of 3,011,825. The company has a 50 day simple moving average of $81.05 and a 200-day simple moving average of $81.72. The stock has a market capitalization of $27.56 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.20 and a beta of 0.28. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22.

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

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. Kellanova's payout ratio is 57.58%.

Wall Street Analyst Weigh In

K has been the topic of several recent research reports. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Royal Bank Of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Finally, Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 price objective on the stock in a report on Thursday, May 29th. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $79.75.

Insiders Place Their Bets

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the completion of the sale, the insider directly owned 45,899,535 shares of the company's stock, valued at approximately $3,657,274,948.80. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,374,996 shares of company stock worth $111,795,196. 1.80% of the stock is currently owned by company insiders.

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.