Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares of 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, July 14th. The stock was sold at an average price of $79.54, for a total value of $9,113,931.82. Following the transaction, the insider owned 45,784,952 shares in the company, valued at approximately $3,641,735,082.08. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 stock opened at $79.67 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a market cap of $27.64 billion, a P/E ratio of 20.12, a PEG ratio of 4.21 and a beta of 0.28. The firm has a fifty day moving average price of $80.92 and a 200 day moving average price of $81.71.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.86%. Kellanova’s dividend payout ratio is currently 57.58%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Kellanova by 0.8% in the first quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company’s stock valued at $2,697,039,000 after purchasing an additional 259,604 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Kellanova by 0.7% in the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company’s stock valued at $1,626,579,000 after purchasing an additional 128,439 shares during the last quarter. Pentwater Capital Management LP boosted its holdings in shares of Kellanova by 39.0% in the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $659,920,000 after purchasing an additional 2,245,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock valued at $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock valued at $337,489,000 after purchasing an additional 111,396 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.