Teacher Retirement System of Texas Takes Position in Kellanova (NYSE:K)

Teacher Retirement System of Texas bought a new stake in Kellanova (NYSE:K) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,580 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independent Advisor Alliance lifted its stake in Kellanova by 16.5% during the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after acquiring an additional 1,019 shares during the period. Toronto Dominion Bank raised its holdings in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Wedmont Private Capital acquired a new position in Kellanova during the fourth quarter valued at $384,000. Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, Alpine Associates Management Inc. grew its position in Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock worth $49,622,000 after purchasing an additional 296,150 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on K shares. StockNews.com assumed coverage on Kellanova in a report on Friday, March 28th. They issued a “hold” rating for 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. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $77.96.

Kellanova Price Performance

Shares of K opened at $82.50 on Thursday. The firm has a market cap of $28.48 billion, a P/E ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The stock’s 50 day moving average is $82.28 and its two-hundred day moving average is $81.38. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the transaction, the insider now owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,473,032 in the last 90 days. 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.