Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Friday, March 28th. The shares were sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the transaction, the insider now owns 47,389,114 shares in the company, valued at $3,906,758,558.16. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Down 0.0 %

Shares of NYSE K opened at $82.43 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The stock’s 50-day simple moving average is $82.24 and its 200-day simple moving average is $81.32. The firm has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in K. Thrivent Financial for Lutherans increased its holdings in shares of Kellanova by 7.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,682 shares of the company’s stock valued at $1,750,000 after acquiring an additional 1,432 shares during the last quarter. Pathstone Holdings LLC increased its stake in Kellanova by 11.6% during the third quarter. Pathstone Holdings LLC now owns 17,280 shares of the company’s stock valued at $1,395,000 after purchasing an additional 1,791 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Kellanova during the third quarter worth $378,000. Brooklyn Investment Group bought a new position in shares of Kellanova in the 3rd quarter worth about $107,000. Finally, Townsquare Capital LLC acquired a new position in shares of Kellanova in the 3rd quarter valued at about $414,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on K shares. Royal Bank of Canada cut Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Friday. They set a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.96.

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.