New York State Teachers Retirement System Has $16.47 Million Stock Holdings in Kellanova (NYSE:K)

New York State Teachers Retirement System trimmed its position in Kellanova (NYSE:K) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,049 shares of the company’s stock after selling 11,716 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of Kellanova worth $16,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB boosted its position in shares of Kellanova by 20.5% in the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Kellanova by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares during the period. SG Americas Securities LLC raised its position in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares during the period. M&G Plc acquired a new stake in shares of Kellanova in the 1st quarter valued at approximately $9,346,000. Finally, Atria Investments Inc acquired a new position in Kellanova during the first quarter valued at approximately $1,003,000. 83.87% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the transaction, the insider now directly owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. The trade was a 0.00 % 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. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the sale, the insider now owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,227,864 shares of company stock valued at $98,438,243. 1.80% of the stock is owned by company insiders.

Kellanova Stock Performance

Shares of NYSE K opened at $80.61 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The stock has a 50 day moving average price of $80.63 and a 200 day moving average price of $68.18. The stock has a market capitalization of $27.78 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. Kellanova has a 52 week low of $50.81 and a 52 week high of $81.26.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. Analysts predict that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is presently 86.36%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Piper Sandler increased their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their price objective on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Sixteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.96.

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.