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 company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the transaction, the insider now owns 48,649,527 shares of the company’s stock, valued at $3,954,233,554.56. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 traded up $0.12 on Tuesday, hitting $81.34. The company had a trading volume of 2,514,823 shares, compared to its average volume of 2,015,875. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a market capitalization of $28.04 billion, a PE ratio of 27.95, a PEG ratio of 2.59 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.39. The company’s fifty day moving average price is $80.82 and its 200-day moving average price is $75.17.

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

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend 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%.

Wall Street Analysts Forecast Growth

Several research analysts have 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 lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. Finally, StockNews.com assumed coverage on shares of Kellanova in a research report on Tuesday. They set a “hold” rating for the company. Fifteen equities 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, Kellanova currently has an average rating of “Hold” and a consensus target price of $76.35.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently modified their holdings of the business. CVA Family Office LLC raised its stake in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. MCF Advisors LLC raised its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the period. Capital Advisors Ltd. LLC lifted 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 acquiring an additional 158 shares during the last quarter. Finally, Mather Group LLC. grew its position in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.