New York State Teachers Retirement System Cuts Stake in Kellanova (NYSE:K)

New York State Teachers Retirement System reduced its stake in shares of Kellanova (NYSE:K) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,336 shares of the company’s stock after selling 3,713 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Kellanova worth $16,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in K. Toronto Dominion Bank boosted its position in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Principal Financial Group Inc. lifted its position in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. Wedmont Private Capital bought a new stake in Kellanova in the fourth quarter worth $384,000. Barclays PLC lifted its position in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Kellanova in the third quarter worth $4,211,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on K shares. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. StockNews.com began coverage on Kellanova in a research note on Sunday. They set a “hold” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.96.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the transaction, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 1,260,413 shares of company stock valued at $102,571,264. 1.80% of the stock is owned by company insiders.

Kellanova Price Performance

Shares of NYSE K opened at $82.26 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market cap of $28.35 billion, a PE ratio of 21.25, a P/E/G ratio of 2.53 and a beta of 0.37. The business has a 50-day simple moving average of $81.37 and a two-hundred day simple moving average of $80.02. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.41.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts expect that Kellanova will post 3.91 EPS for the current fiscal year.

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.