Kellanova (NYSE:K) Major Shareholder Sells $9,195,285.75 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $80.25, for a total value of $9,195,285.75. Following the sale, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.1 %

Shares of NYSE:K traded up $0.10 during trading on Monday, hitting $80.19. The company’s stock had a trading volume of 1,982,078 shares, compared to its average volume of 3,319,105. The company has a market capitalization of $27.45 billion, a PE ratio of 30.09, a P/E/G ratio of 2.57 and a beta of 0.38. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $80.97. The business has a 50 day moving average price of $67.63 and a two-hundred day moving average price of $61.30.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, research analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.84%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio is 85.39%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com started coverage on shares of Kellanova in a report on Monday. They issued a “hold” rating for the company. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Stifel Nicolaus upped their target price on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Zhang Financial LLC increased its position in Kellanova by 0.8% during the first quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock worth $1,221,000 after buying an additional 176 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Kellanova by 1.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock valued at $566,000 after buying an additional 180 shares during the last quarter. IFG Advisory LLC grew its position in shares of Kellanova by 1.4% during the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after acquiring an additional 189 shares during the last quarter. Finally, Eukles Asset Management increased its holdings in shares of Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after acquiring an additional 193 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

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.