Kellanova (NYSE:K) Major Shareholder Sells $9,313,306.24 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the sale, the insider now owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Up 0.2 %

NYSE:K opened at $81.53 on Friday. Kellanova has a 12 month low of $52.46 and a 12 month high of $81.58. The business’s 50-day moving average is $80.87 and its two-hundred day moving average is $75.54. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm has a market capitalization of $28.10 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Wall Street Analyst Weigh In

K has been the subject of several analyst reports. StockNews.com initiated coverage on Kellanova in a research note on Tuesday. They issued a “hold” rating for the company. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and an average target price of $76.35.

Hedge Funds Weigh In On Kellanova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in K. Swedbank AB increased its stake in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Barclays PLC lifted its position in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova in the third quarter worth about $4,211,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.