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 stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $80.72, for a total value of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.1 %

NYSE K opened at $80.65 on Wednesday. Kellanova has a 12 month low of $47.63 and a 12 month high of $81.00. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The firm’s fifty day moving average price is $75.61 and its 200 day moving average price is $64.38.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s dividend payout ratio is currently 85.39%.

Institutional Investors Weigh In On Kellanova

Several large investors have recently modified their holdings of K. CANADA LIFE ASSURANCE Co lifted its position in Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock valued at $14,705,000 after purchasing an additional 10,676 shares during the period. SG Americas Securities LLC raised its position in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock worth $15,049,000 after acquiring an additional 217,320 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Kellanova by 35.5% in the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after acquiring an additional 20,866 shares in the last quarter. M&G Plc acquired a new stake in Kellanova in the first quarter valued at $9,346,000. Finally, Atria Investments Inc purchased a new stake in shares of Kellanova during the 1st quarter worth $1,003,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on K. Evercore ISI upgraded Kellanova to a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Monday, August 5th. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $74.32.

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.