Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the completion of the transaction, the insider now owns 51,920,038 shares of the company’s stock, valued at approximately $2,998,901,394.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.3 %

Shares of K opened at $58.15 on Wednesday. The firm has a market cap of $19.87 billion, a P/E ratio of 21.15, a PEG ratio of 2.14 and a beta of 0.40. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The stock’s 50 day moving average is $55.76 and its two-hundred day moving average is $54.16. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. Analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.85%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of K. Oakworth Capital Inc. raised its position in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after buying an additional 393 shares during the last quarter. Norwood Financial Corp lifted its stake in Kellanova by 81.8% in the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares during the last quarter. Bfsg LLC grew its position in shares of Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Motco increased its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on K. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. DA Davidson assumed coverage on shares of Kellanova in a research report on Friday, March 1st. They set a “buy” rating and a $67.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Piper Sandler raised their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Stifel Nicolaus upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.27.

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.