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 firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $55.35, for a total value of $4,306,230.00. Following the sale, the insider now directly owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

Shares of K opened at $55.40 on Tuesday. The company has a market cap of $18.93 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The stock has a 50-day moving average price of $55.43 and a 200-day moving average price of $54.00. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30.

Kellanova (NYSE:K) last issued 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 during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. As a group, equities analysts forecast that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 4.04%. Kellanova’s payout ratio is 81.45%.

Institutional Trading of Kellanova

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after buying an additional 1,130,582 shares during the last quarter. BlackRock Inc. lifted its position in Kellanova by 1.2% in the first quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock valued at $2,122,486,000 after purchasing an additional 369,648 shares during the last quarter. State Street Corp lifted its position in Kellanova by 2.6% in the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock valued at $947,753,000 after purchasing an additional 369,620 shares during the last quarter. Geode Capital Management LLC lifted its position in Kellanova by 2.9% in the first quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company’s stock valued at $378,150,000 after purchasing an additional 159,028 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after purchasing an additional 98,294 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

K has been the subject of several research analyst reports. Piper Sandler raised their target price on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Barclays lifted their price objective on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Wells Fargo & Company lifted their price objective on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. StockNews.com lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.