Kellanova (NYSE:K) Major Shareholder Sells $9,442,785.03 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $82.41, for a total value of $9,442,785.03. Following the completion of the transaction, the insider now owns 47,159,948 shares of the company’s stock, valued at approximately $3,886,451,314.68. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

K opened at $82.45 on Tuesday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The business has a 50 day moving average price of $82.35 and a two-hundred day moving average price of $81.48. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

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

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is presently 58.91%.

Analysts Set New Price Targets

K has been the subject of a number of analyst reports. StockNews.com started coverage on Kellanova in a research note on Sunday. They set a “hold” rating for the company. Royal Bank of Canada lowered shares of 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.96.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after buying an additional 130 shares in the last quarter. Quent Capital LLC lifted its position in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after acquiring an additional 140 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after purchasing an additional 145 shares during the period. OneAscent Financial Services LLC grew its position in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after purchasing an additional 149 shares in the last quarter. Finally, SPC Financial Inc. raised its stake in Kellanova by 5.7% during the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.