Kellanova (NYSE:K) Major Shareholder Sells $9,442,785.03 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $82.41, for a total value of $9,442,785.03. Following the completion of the transaction, the insider now directly owns 47,159,948 shares in the company, valued at $3,886,451,314.68. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

K stock traded up $0.16 during mid-day trading on Monday, reaching $82.45. 2,014,111 shares of the company’s stock were exchanged, compared to its average volume of 2,731,008. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The stock’s 50 day moving average is $82.33 and its 200 day moving average is $81.47. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

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%. On average, research analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on K. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com assumed coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.96.

Institutional Trading of Kellanova

A number of hedge funds have recently bought and sold shares of K. Stonebridge Financial Group LLC acquired a new stake in Kellanova during the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova in the fourth quarter valued at approximately $32,000. Flagship Wealth Advisors LLC purchased a new position in Kellanova in the fourth quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.