Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $9,442,785.03 in 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, April 14th. The stock was sold at an average price of $82.41, for a total value of $9,442,785.03. Following the transaction, the insider now directly owns 47,159,948 shares in the company, valued at $3,886,451,314.68. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Down 0.1 %

K stock opened at $82.19 on Thursday. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a 1-year low of $55.60 and a 1-year high of $83.22. The firm has a fifty day moving average price of $82.35 and a two-hundred day moving average price of $81.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Research analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is presently 58.91%.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently modified their holdings of K. Oregon Public Employees Retirement Fund increased its position in Kellanova by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock worth $1,870,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC grew its position in shares of Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after purchasing an additional 140 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Kellanova by 1.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock valued at $690,000 after buying an additional 145 shares during the last quarter. OneAscent Financial Services LLC increased its position in Kellanova by 4.7% during the fourth quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after acquiring an additional 149 shares during the period. Finally, SPC Financial Inc. raised its position in shares of Kellanova by 5.7% during the fourth quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on K shares. StockNews.com assumed coverage on shares of Kellanova in a report on Sunday. They set a “hold” rating for the company. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average price target of $77.96.

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.