Kellanova (NYSE:K) Major Shareholder Sells $4,489,838.00 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $57.71, for a total transaction of $4,489,838.00. Following the transaction, the insider now directly owns 51,297,638 shares in the company, valued at approximately $2,960,386,688.98. The sale was disclosed in a legal filing 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 sales and purchases with the SEC.

Kellanova Stock Performance

NYSE K opened at $57.48 on Monday. Kellanova has a 1-year low of $47.63 and a 1-year high of $68.69. The company has a 50 day moving average of $59.55 and a 200-day moving average of $56.73. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.05 and a beta of 0.35.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. On average, equities analysts forecast that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Monday, June 3rd. Kellanova’s dividend payout ratio is currently 83.90%.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently modified their holdings of K. Bfsg LLC boosted its stake in Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Baker Avenue Asset Management LP increased its position 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 valued at $30,000 after buying an additional 341 shares in the last quarter. BNP Paribas bought a new position in shares of Kellanova during the 1st quarter valued at about $30,000. Motco grew its position in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Finally, Blue Trust Inc. raised its holdings in Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays raised their price target on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. DA Davidson boosted their price target on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.83.

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.