Kellanova (NYSE:K) Major Shareholder Sells $9,276,639.68 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.96, for a total value of $9,276,639.68. Following the sale, the insider now directly owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Trading Up 0.0 %

Shares of K stock opened at $80.96 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. Kellanova has a fifty-two week low of $49.41 and a fifty-two week high of $81.26. The firm’s 50 day moving average price is $80.58 and its two-hundred day moving average price is $67.15. The stock has a market cap of $27.68 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

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

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid 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 dividend yield of 2.82%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on K shares. Stifel Nicolaus raised their price target on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a research note on Monday, August 5th. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Evercore ISI raised Kellanova to a “hold” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $83.50 in a research report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.32.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC grew its stake in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. Blue Trust Inc. increased 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 purchasing an additional 170 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Kellanova in the 2nd quarter valued at approximately $29,000. BNP Paribas purchased a new position in shares of Kellanova during the 1st quarter valued at approximately $30,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

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.