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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 21st. The shares were sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the completion of the sale, the insider now directly owns 47,503,697 shares of the company’s stock, valued at approximately $3,910,029,300.07. 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 accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of NYSE K traded up $0.07 during mid-day trading on Friday, hitting $82.40. 3,087,145 shares of the company were exchanged, compared to its average volume of 2,555,861. Kellanova has a 1-year low of $54.70 and a 1-year high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a 50 day simple moving average of $82.12 and a 200-day simple moving average of $81.24. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, sell-side analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Institutional Trading of Kellanova

Institutional investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance grew its position in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after purchasing an additional 1,019 shares during the last quarter. Toronto Dominion Bank increased its stake in Kellanova by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares during the period. Wedmont Private Capital acquired a new position in shares of Kellanova during the 4th quarter worth $384,000. Barclays PLC increased its stake in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova in the 3rd quarter valued at $4,211,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.