California State Teachers Retirement System Sells 14,680 Shares of Kellanova (NYSE:K)

California State Teachers Retirement System trimmed its holdings in shares of Kellanova (NYSE:KFree Report) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 401,522 shares of the company’s stock after selling 14,680 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Kellanova worth $22,449,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Boussard & Gavaudan Investment Management LLP raised its position in shares of Kellanova by 29.6% in the 4th quarter. Boussard & Gavaudan Investment Management LLP now owns 172,969 shares of the company’s stock worth $9,659,000 after acquiring an additional 39,456 shares in the last quarter. Global Endowment Management LP lifted its position in shares of Kellanova by 3.9% during the fourth quarter. Global Endowment Management LP now owns 15,459 shares of the company’s stock valued at $864,000 after buying an additional 580 shares during the last quarter. Chiron Capital Management LLC boosted its holdings in shares of Kellanova by 3.2% in the 4th quarter. Chiron Capital Management LLC now owns 19,306 shares of the company’s stock valued at $1,079,000 after buying an additional 600 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Kellanova by 0.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 182,725 shares of the company’s stock worth $10,216,000 after buying an additional 1,420 shares during the last quarter. Finally, Fiduciary Trust Co raised its stake in shares of Kellanova by 15.1% during the 4th quarter. Fiduciary Trust Co now owns 5,175 shares of the company’s stock worth $289,000 after acquiring an additional 678 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Insider Buying and Selling at Kellanova

In other news, SVP Nicolas Amaya sold 9,800 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $55.61, for a total transaction of $4,326,458.00. Following the completion of the sale, the insider now directly owns 52,231,238 shares in the company, valued at approximately $2,904,579,145.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,600 shares of company stock valued at $50,366,486. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

NYSE K opened at $59.78 on Thursday. The firm has a market capitalization of $20.44 billion, a P/E ratio of 22.39, a PEG ratio of 2.15 and a beta of 0.35. The stock has a 50-day simple moving average of $59.14 and a two-hundred day simple moving average of $56.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $68.69.

Kellanova (NYSE:KGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business earned $1.10 earnings per share. Kellanova’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.75%. Kellanova’s dividend payout ratio is presently 83.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. DA Davidson upped their target price on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. TD Cowen boosted their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Finally, StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $61.85.

Check Out Our Latest Stock Report on K

Kellanova Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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