Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total transaction of $9,239,973.12. Following the completion of the transaction, the insider now directly owns 48,878,693 shares in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.1 %

Shares of K stock opened at $80.82 on Wednesday. The company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 2.59 and a beta of 0.38. 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 has a 12-month low of $52.46 and a 12-month high of $81.34. The firm has a fifty day moving average of $80.81 and a 200-day moving average of $73.61.

Kellanova (NYSE:K) last announced its 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 business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares in the last quarter. CVA Family Office LLC lifted its stake 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 last quarter. Newbridge Financial Services Group Inc. grew its position 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 acquiring an additional 200 shares during the period. MCF Advisors LLC increased its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Kellanova in the 2nd quarter valued at about $39,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on K shares. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com assumed coverage on Kellanova in a report on Sunday. They set a “hold” rating on the stock. Finally, BNP Paribas cut 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. Fifteen investment 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, the stock presently has a consensus rating of “Hold” and an average target price of $76.35.

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.