Teacher Retirement System of Texas Buys 37,733 Shares of Kellanova (NYSE:K)

Teacher Retirement System of Texas grew its position in shares of Kellanova (NYSE:K - Free Report) by 1,462.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after buying an additional 281,137 shares during the period. Keybank National Association OH increased its holdings in shares of Kellanova by 0.7% in the first quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after buying an additional 128,439 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after buying an additional 158,560 shares during the period. Pentwater Capital Management LP increased its holdings in shares of Kellanova by 8.5% in the fourth quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after buying an additional 450,700 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after buying an additional 111,396 shares during the period. Institutional investors own 83.87% of the company's stock.

Kellanova Stock Up 0.2%

Shares of K stock traded up $0.20 during midday trading on Thursday, reaching $79.42. 1,066,315 shares of the stock were exchanged, compared to its average volume of 3,000,781. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The company's 50 day moving average is $81.11 and its two-hundred day moving average is $81.73. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. The firm has a market cap of $27.55 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 4.21 and a beta of 0.28.

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

Kellanova Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.87%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Insider Buying and Selling at Kellanova

In other 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 30th. The stock was sold at an average price of $79.37, for a total value of $9,094,452.71. Following the sale, the insider directly owned 46,014,118 shares of the company's stock, valued at $3,652,140,545.66. The trade was a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 1,374,996 shares of company stock worth $111,795,196. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Kellanova 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.