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 company’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 sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at approximately $3,941,577,803.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

K traded up $0.20 during trading on Monday, reaching $80.70. 1,228,022 shares of the company traded hands, compared to its average volume of 2,938,336. The company has a market cap of $27.82 billion, a P/E ratio of 27.73, a PEG ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The firm has a fifty day simple moving average of $80.81 and a 200 day simple moving average of $73.46.

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

Kellanova Dividend Announcement

The company 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. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.83%. Kellanova’s dividend payout ratio is currently 78.35%.

Hedge Funds Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investors Research Corp raised its stake in Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 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 in the last quarter. S.A. Mason LLC lifted its holdings in shares of Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after acquiring an additional 140 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in Kellanova by 1.7% in the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after acquiring an additional 145 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on K shares. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Finally, StockNews.com initiated coverage on Kellanova in a research report on Sunday. They set a “hold” rating on the stock. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus 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.