Kellanova (NYSE:K) Major Shareholder Sells $4,739,576.00 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total value of $4,739,576.00. Following the transaction, the insider now directly owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

K opened at $61.64 on Wednesday. The business has a fifty day simple moving average of $56.42 and a 200 day simple moving average of $54.80. The company has a market capitalization of $21.07 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. Kellanova has a 1 year low of $47.63 and a 1 year high of $71.53.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Research analysts expect that Kellanova will post 3.58 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Kellanova’s payout ratio is 83.90%.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently modified their holdings of K. Vanguard Group Inc. grew its stake in shares of Kellanova by 3.6% during the fourth 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kellanova by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after acquiring an additional 98,294 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Kellanova by 29.4% during the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company’s stock valued at $296,971,000 after acquiring an additional 1,132,485 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in shares of Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after acquiring an additional 655,686 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company’s stock valued at $291,061,000 after acquiring an additional 1,051,922 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on K. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Citigroup started coverage on Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Barclays raised their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday. Stifel Nicolaus raised their price objective on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Finally, Piper Sandler raised their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.46.

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.