Kellanova (NYSE:K) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in shares of Kellanova (NYSE:K - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,336 shares of the company's stock after selling 3,713 shares during the period. New York State Teachers Retirement System owned about 0.06% of Kellanova worth $16,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in K. Lester Murray Antman dba SimplyRich increased its holdings in shares of Kellanova by 7.5% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 3,643 shares of the company's stock valued at $294,000 after acquiring an additional 255 shares during the period. Quent Capital LLC grew its position in Kellanova by 20.2% during the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock worth $67,000 after purchasing an additional 140 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Kellanova in the fourth quarter valued at $27,000. Savant Capital LLC raised its holdings in shares of Kellanova by 5.4% in the fourth quarter. Savant Capital LLC now owns 14,778 shares of the company's stock valued at $1,197,000 after buying an additional 763 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Kellanova by 20.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,465 shares of the company's stock worth $281,000 after buying an additional 598 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,260,413 shares of company stock valued at $102,571,264. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on K. StockNews.com began coverage on Kellanova in a research note on Sunday. They set a "hold" rating for the company. Royal Bank of Canada raised Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 target price on the stock in a report on Tuesday. Finally, BNP Paribas downgraded Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $77.96.

Kellanova Price Performance

Shares of NYSE:K traded up $0.08 during midday trading on Wednesday, hitting $82.40. 2,495,416 shares of the stock were exchanged, compared to its average volume of 2,404,427. The stock has a market cap of $28.40 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.49. The company has a 50 day moving average price of $81.44 and a 200-day moving average price of $80.49. 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 - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts forecast that Kellanova will post 3.92 earnings per share for the current year.

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.