Teacher Retirement System of Texas Has $3.34 Million Stock Holdings in Kellanova $K

Teacher Retirement System of Texas increased its position in shares of Kellanova (NYSE:K) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,938 shares of the company’s stock after acquiring an additional 1,625 shares during the quarter. Teacher Retirement System of Texas’ holdings in Kellanova were worth $3,335,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of K. Vanguard Group Inc. raised its holdings in Kellanova by 0.8% in the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock worth $2,697,039,000 after purchasing an additional 259,604 shares during the period. Pentwater Capital Management LP increased its position in shares of Kellanova by 39.0% in the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after buying an additional 2,245,000 shares in the last quarter. Northern Trust Corp raised its stake in Kellanova by 3.0% during the 1st quarter. Northern Trust Corp now owns 4,015,549 shares of the company’s stock worth $331,243,000 after buying an additional 117,650 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Kellanova by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,953,288 shares of the company’s stock worth $243,617,000 after acquiring an additional 292,063 shares in the last quarter. Finally, Amundi grew its stake in Kellanova by 12.0% in the first quarter. Amundi now owns 2,949,498 shares of the company’s stock valued at $243,481,000 after acquiring an additional 316,567 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings lowered Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded shares of Kellanova from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. began coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 price target for the company. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.50.

Kellanova Stock Down 0.1%

Shares of Kellanova stock opened at $83.08 on Friday. The firm has a market cap of $28.88 billion, a PE ratio of 21.80, a P/E/G ratio of 5.16 and a beta of 0.24. The business’s 50 day simple moving average is $80.84 and its 200 day simple moving average is $80.86. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.22.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the business earned $0.91 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 dividend on an annualized basis and a yield of 2.8%. Kellanova’s dividend payout ratio (DPR) is 63.74%.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares of the company’s stock, valued at $3,587,501,192.90. The trade was a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 343,765 shares of company stock valued at $27,455,360. 1.80% of the stock is currently owned by insiders.

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.