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 dated Monday, October 14th. The shares were sold at an average price of $80.63, for a total transaction of $9,238,827.29. Following the completion of the sale, the insider now directly owns 49,909,940 shares of the company’s stock, valued at $4,024,238,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.4 %

Kellanova stock traded up $0.30 during mid-day trading on Tuesday, hitting $80.93. 1,305,542 shares of the company’s stock were exchanged, compared to its average volume of 3,155,790. Kellanova has a 1-year low of $49.28 and a 1-year high of $81.09. The stock has a 50 day moving average of $79.58 and a two-hundred day moving average of $65.98. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46. The stock has a market cap of $27.67 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts anticipate that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and upped their price target for the company from $80.00 to $83.50 in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a report on Monday, August 12th. Fifteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $74.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares during the period. Family Firm Inc. bought a new stake in Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC boosted its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the period. BNP Paribas acquired a new stake in Kellanova in the 1st quarter worth $30,000. Finally, 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 purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.