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 company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $80.68, for a total value of $9,244,556.44. Following the completion of the sale, the insider now owns 50,253,689 shares in the company, valued at $4,054,467,628.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Trading Down 0.1 %

Shares of K opened at $80.59 on Thursday. The company has a market capitalization of $27.55 billion, a P/E ratio of 30.18, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a one year low of $47.63 and a one year high of $80.97. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The stock has a 50-day moving average price of $73.35 and a 200 day moving average price of $63.44.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. Kellanova’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. Sell-side analysts forecast that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. This is an increase from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is currently 85.39%.

Wall Street Analysts Forecast Growth

K has been the topic of several recent analyst reports. Evercore ISI upgraded Kellanova to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus increased their target price on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $74.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of K. Blue Trust Inc. lifted its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter worth approximately $29,000. BNP Paribas bought a new stake in shares of Kellanova in the 1st quarter worth approximately $30,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Kellanova in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors 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.