Kellanova (NYSE:K) Major Shareholder Sells $9,431,326.73 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 21st. The shares were sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the transaction, the insider now owns 47,503,697 shares in the company, valued at $3,910,029,300.07. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

K opened at $82.40 on Friday. The company has a 50-day moving average of $82.14 and a 200-day moving average of $81.25. The company has a market capitalization of $28.44 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. Equities analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Institutional Investors Weigh In On Kellanova

Several institutional investors and hedge funds have recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new stake in Kellanova during the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Kellanova in a report on Thursday. They issued a “hold” rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.96.

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.