Kellogg W. K. Foundation Trust Sells 77,800 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the sale, the insider now owns 51,997,838 shares of the company’s stock, valued at $2,878,080,333.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Up 1.0 %

Shares of Kellanova stock opened at $56.07 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The company has a 50-day moving average of $55.50 and a 200 day moving average of $53.99. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.07 and a beta of 0.40. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the prior year, the firm posted $0.94 EPS. Kellanova’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.00%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is 81.45%.

Analyst Ratings Changes

K has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $62.27.

Institutional Trading of Kellanova

Several institutional investors have recently bought and sold shares of K. Oakworth Capital Inc. grew its position in Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares during the last quarter. Norwood Financial Corp boosted its holdings in shares of Kellanova by 81.8% during the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after acquiring an additional 225 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares during the last quarter. Motco boosted its holdings in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Finally, Cowa LLC purchased a new stake in shares of Kellanova during the 1st quarter valued at about $33,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.