New York State Teachers Retirement System Sells 11,716 Shares of Kellanova (NYSE:K)

New York State Teachers Retirement System decreased its position in Kellanova (NYSE:K - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,049 shares of the company's stock after selling 11,716 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Kellanova worth $16,469,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new position in shares of Kellanova during the 1st quarter valued at about $395,000. Sequoia Financial Advisors LLC raised its position in shares of Kellanova by 23.3% in the first quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the company's stock valued at $559,000 after purchasing an additional 1,841 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kellanova by 18.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,172 shares of the company's stock worth $6,827,000 after buying an additional 18,224 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Kellanova by 95.9% during the 1st quarter. BNP Paribas Financial Markets now owns 969,096 shares of the company's stock worth $55,520,000 after buying an additional 474,530 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Kellanova by 3.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,382 shares of the company's stock worth $2,428,000 after buying an additional 1,504 shares during the period. Institutional investors own 83.87% of the company's stock.

Kellanova Price Performance

K traded down $0.04 during midday trading on Friday, hitting $80.61. The company had a trading volume of 3,773,971 shares, compared to its average volume of 3,081,676. Kellanova has a twelve month low of $50.81 and a twelve month high of $81.26. The company has a market capitalization of $27.78 billion, a PE ratio of 30.53, a P/E/G ratio of 2.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The firm's 50-day simple moving average is $80.63 and its 200-day simple moving average is $68.27.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the firm earned $1.03 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova's payout ratio is 86.36%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays increased their target price on Kellanova from $67.00 to $83.00 and gave the company an "equal weight" rating in a research note on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Stifel Nicolaus upped their target price on shares of Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, August 12th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They issued a "neutral" rating and a $75.00 price target for the company. Finally, Royal Bank of Canada downgraded shares of Kellanova from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Sixteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.96.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the transaction, the insider now directly owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $80.76, for a total value of $9,253,723.08. Following the sale, the insider now directly owns 49,680,774 shares of the company's stock, valued at approximately $4,012,219,308.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,227,864 shares of company stock worth $98,438,243 in the last three months. 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.