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 business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $81.42, for a total value of $9,329,347.86. Following the transaction, the insider now owns 48,534,944 shares of the company’s stock, valued at approximately $3,951,715,140.48. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Trading Down 0.2 %

NYSE K opened at $81.24 on Thursday. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.58. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average of $80.92 and a 200-day moving average of $76.17. The firm has a market cap of $28.00 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

Kellanova (NYSE:K) last released its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, sell-side analysts forecast that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB raised its position in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after purchasing an additional 46,450 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after acquiring an additional 8,686 shares in the last quarter. Principal Financial Group Inc. raised 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 acquiring an additional 24,067 shares in the last quarter. Barclays PLC raised its position in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Kellanova in the 3rd quarter worth approximately $4,211,000. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on K shares. StockNews.com assumed coverage on Kellanova in a research report on Wednesday. They set a “hold” rating for the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.