Teacher Retirement System of Texas Has $3.33 Million Position in Kellanova (NYSE:K)

Teacher Retirement System of Texas raised its stake in shares of Kellanova (NYSE:K - Free Report) by 1,462.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,313 shares of the company's stock after buying 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 quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in K. Grove Bank & Trust bought a new stake in Kellanova during the first quarter valued at about $25,000. MorganRosel Wealth Management LLC bought a new stake in Kellanova during the 1st quarter valued at approximately $27,000. Flagship Wealth Advisors LLC bought a new stake in Kellanova during the 4th quarter valued at approximately $32,000. Accredited Wealth Management LLC acquired a new stake in Kellanova in the 4th quarter valued at approximately $36,000. Finally, Twin Tree Management LP bought a new position in Kellanova in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Finally, Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of "Hold" and an average price target of $79.75.

Kellanova Price Performance

NYSE K traded up $0.42 on Thursday, reaching $79.64. The company's stock had a trading volume of 3,316,249 shares, compared to its average volume of 3,014,121. Kellanova has a 52 week low of $55.96 and a 52 week high of $83.22. 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 $27.63 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 4.20 and a beta of 0.28. The business has a 50-day moving average price of $81.11 and a 200 day moving average price of $81.73.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Sell-side analysts expect 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. Investors 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 dividend yield of 2.86%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction 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 completion of the transaction, the insider owned 46,014,118 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Over the last ninety days, insiders have sold 1,374,996 shares of company stock worth $111,795,196. Company insiders own 1.80% of the company's stock.

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.