Teachers Retirement System of The State of Kentucky Reduces Position in Kellanova (NYSE:K)

Teachers Retirement System of The State of Kentucky trimmed its stake in Kellanova (NYSE:K) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,791 shares of the company’s stock after selling 926 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Kellanova were worth $1,598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the period. Family Firm Inc. bought a new position in shares of Kellanova during the 2nd quarter valued at approximately $29,000. CVA Family Office LLC increased its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, MCF Advisors LLC lifted its holdings in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 137 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Performance

Shares of NYSE:K opened at $80.59 on Wednesday. The firm has a fifty day simple moving average of $80.82 and a two-hundred day simple moving average of $73.04. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $27.78 billion, a P/E ratio of 27.69, a PEG ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s payout ratio is presently 78.35%.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total value of $9,249,139.76. Following the sale, the insider now directly owns 50,139,106 shares of the company’s stock, valued at $4,047,228,636.32. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock worth $83,327,049 over the last three months. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on K shares. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. StockNews.com initiated coverage on Kellanova in a report on Saturday. They set a “hold” rating on the stock. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, DA Davidson cut Kellanova from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.35.

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.