Kellogg W. K. Foundation Trust Sells 77,800 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the transaction, the insider now owns 51,219,838 shares of the company’s stock, valued at $2,952,311,462.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Shares of K stock remained flat at $57.68 on Friday. 2,373,416 shares of the stock traded hands, compared to its average volume of 2,940,553. The company’s 50-day moving average is $59.69 and its 200 day moving average is $56.80. The company has a market cap of $19.72 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.04 and a beta of 0.35. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.69.

Kellanova (NYSE:K) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, research analysts expect that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a dividend of $0.56 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.88%. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Institutional Trading of Kellanova

A number of large investors have recently added to or reduced their stakes in the stock. Bfsg LLC boosted 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 acquiring an additional 200 shares during the period. Baker Avenue Asset Management LP boosted its position in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares during the period. BNP Paribas bought a new position in shares of Kellanova in the first quarter valued at approximately $30,000. Motco boosted its position 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 acquiring an additional 500 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. DA Davidson upped their price objective on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. TD Cowen upped their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Barclays upped their price objective on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.83.

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.