Kellanova (NYSE:K) Major Shareholder Sells $9,241,118.95 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Up 0.0 %

NYSE K opened at $80.65 on Thursday. The company’s fifty day simple moving average is $71.43 and its 200-day simple moving average is $62.68. Kellanova has a 52 week low of $47.63 and a 52 week high of $80.97. 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 $27.57 billion, a P/E ratio of 30.21, a PEG ratio of 2.57 and a beta of 0.39.

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

Kellanova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors 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 2.83%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. Kellanova’s payout ratio is 85.39%.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in K. Blue Trust Inc. increased its stake in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. Zhang Financial LLC increased its stake in Kellanova by 0.8% during the first quarter. Zhang Financial LLC now owns 21,318 shares of the company’s stock valued at $1,221,000 after purchasing an additional 176 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Kellanova by 1.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock valued at $566,000 after purchasing an additional 180 shares during the last quarter. IFG Advisory LLC increased its stake in Kellanova by 1.4% during the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock valued at $797,000 after purchasing an additional 189 shares during the last quarter. Finally, Eukles Asset Management increased its stake in Kellanova by 0.7% during the second quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on K. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and raised their target price for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Monday, August 5th. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus lifted their price target on shares of Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Fourteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.