Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the sale, the insider now owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. The trade was 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. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

K traded up $0.40 during trading hours on Friday, hitting $82.90. The company’s stock had a trading volume of 3,385,966 shares, compared to its average volume of 2,405,666. The business’s 50-day moving average price is $81.72 and its 200-day moving average price is $80.95. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.94. The stock has a market cap of $28.62 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 4.21 and a beta of 0.37. 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) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com assumed coverage on shares of Kellanova in a research note on Monday. They set a “hold” rating on the stock. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Finally, Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a research report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $77.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. boosted its stake in Kellanova by 6.9% during 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 period. Wedmont Private Capital purchased a new stake in shares of Kellanova during the fourth quarter valued at $384,000. Barclays PLC boosted its stake in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Kellanova during the third quarter valued at $4,211,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.