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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the sale, the insider now directly owns 48,534,944 shares of the company’s stock, valued at $3,951,715,140.48. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of K opened at $81.24 on Thursday. The firm has a market cap of $28.00 billion, a PE ratio of 27.92, a PEG ratio of 2.59 and a beta of 0.37. The stock’s fifty day moving average price is $80.92 and its two-hundred day moving average price is $76.17. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.58.

Kellanova (NYSE:K) last issued its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. On average, equities research analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently made changes to their positions in the stock. CVA Family Office LLC grew its position in shares of Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. MCF Advisors LLC grew its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. Finally, Mather Group LLC. grew its position in Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com initiated coverage on Kellanova in a research report on Wednesday. They set a “hold” rating for the company. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Kellanova has an average rating of “Hold” and an average target price of $76.35.

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.