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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the completion of the transaction, the insider now directly owns 48,305,778 shares of the company’s stock, valued at approximately $3,956,726,275.98. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of NYSE K opened at $81.82 on Wednesday. The firm has a market capitalization of $28.20 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.50 and a beta of 0.37. The firm’s 50-day moving average price is $81.06 and its 200-day moving average price is $77.75. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.06.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (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 for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in K. Kingsview Wealth Management LLC boosted its position in shares of Kellanova by 20.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,465 shares of the company’s stock valued at $281,000 after buying an additional 598 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Kellanova by 13.4% during the 4th quarter. Apollon Wealth Management LLC now owns 6,388 shares of the company’s stock worth $517,000 after acquiring an additional 757 shares during the last quarter. Samson Rock Capital LLP purchased a new stake in shares of Kellanova in the fourth quarter valued at about $18,218,000. Bright Financial Advisors Inc. bought a new position in shares of Kellanova during the fourth quarter valued at about $225,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Kellanova by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,508 shares of the company’s stock worth $3,037,000 after purchasing an additional 235 shares during the last quarter. 83.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

K has been the subject of a number of recent research reports. Argus cut 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 target price on the stock. in a research report on Friday, November 1st. Finally, StockNews.com initiated coverage on shares of Kellanova in a research note on Thursday, January 23rd. They set a “hold” rating for the company. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $76.35.

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.