Kellanova (NYSE:K) Major Shareholder Sells $9,313,306.24 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares of the company’s stock, valued at $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

NYSE:K opened at $81.53 on Thursday. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.58. The stock has a fifty day moving average of $80.85 and a 200 day moving average of $75.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. On average, research analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analysts Set New Price Targets

Several research firms have recently weighed in on K. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com initiated coverage on shares of Kellanova in a research note on Tuesday. They issued a “hold” rating for the company. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.35.

Institutional Trading of Kellanova

A number of hedge funds have recently made changes to their positions in the stock. Swedbank AB boosted its position in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after buying an additional 46,450 shares during the period. Toronto Dominion Bank increased its holdings in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares during the period. Principal Financial Group Inc. grew its position in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. Barclays PLC increased its position in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Kellanova during the third quarter valued at about $4,211,000. 83.87% of the stock is owned by institutional investors.

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.