Kellanova (NYSE:K) Major Shareholder Sells $9,458,826.65 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 Friday, March 7th. The shares were sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the transaction, the insider now directly owns 47,732,863 shares of the company’s stock, valued at $3,940,347,840.65. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Trading Up 0.0 %

Kellanova stock opened at $82.45 on Monday. Kellanova has a 52-week low of $52.46 and a 52-week high of $83.22. The company has a market cap of $28.46 billion, a P/E ratio of 21.31, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The business has a 50-day simple moving average of $81.92 and a two-hundred day simple moving average of $81.14.

Kellanova (NYSE:K) last announced its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be issued a $0.57 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on K shares. StockNews.com initiated coverage on Kellanova in a research report on Tuesday, March 4th. They issued a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $77.96.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in Kellanova during the fourth quarter valued at approximately $285,126,000. Franklin Resources Inc. raised its position in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after purchasing an additional 2,313,047 shares during the period. FIL Ltd lifted its stake in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares in the last quarter. Westchester Capital Management LLC bought a new position in Kellanova in the 3rd quarter worth $107,795,000. Finally, Barclays PLC increased its stake in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.