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 firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the completion of the sale, the insider now owns 51,920,038 shares in the company, valued at approximately $2,998,901,394.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.60 during midday trading on Monday, hitting $57.98. 1,912,716 shares of the company traded hands, compared to its average volume of 3,122,552. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.14 and a beta of 0.40. The firm’s fifty day moving average price is $55.61 and its 200-day moving average price is $54.05.

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

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

Analyst Ratings Changes

Several research firms have issued reports on K. Barclays lifted their price target on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Twelve 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, the company has an average rating of “Hold” and a consensus target price of $62.27.

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently modified their holdings of K. Oakworth Capital Inc. boosted its stake in shares of Kellanova by 491.3% in 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 raised its holdings in Kellanova by 81.8% during the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after buying an additional 225 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after acquiring an additional 341 shares in the last quarter. Motco grew its stake in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the period. 83.87% of the stock is owned by 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.