Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total value of $9,360,285.27. Following the completion of the transaction, the insider now directly owns 48,420,361 shares of the company’s stock, valued at $3,955,459,290.09. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

K traded down $0.11 on Tuesday, hitting $81.67. 3,777,328 shares of the company traded hands, compared to its average volume of 2,401,661. The company has a 50 day moving average of $80.97 and a 200-day moving average of $76.86. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.82. The stock has a market capitalization of $28.15 billion, a PE ratio of 28.06, a PEG ratio of 2.50 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts anticipate that Kellanova will post 3.75 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analyst Ratings Changes

Several research analysts have recently issued reports on K shares. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, StockNews.com began coverage on Kellanova in a research report on Wednesday, January 15th. They set a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.35.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its holdings in Kellanova by 529.3% in 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 during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. MCF Advisors LLC boosted its holdings in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after acquiring an additional 256 shares during the period. 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.