Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 77,800 Shares of 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 Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the completion of the transaction, the insider now owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Kellanova stock opened at $57.68 on Friday. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $68.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market capitalization of $19.72 billion, a P/E ratio of 21.60, a PEG ratio of 2.05 and a beta of 0.35. The stock has a 50-day simple moving average of $59.71 and a 200-day simple moving average of $56.83.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned $1.10 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that Kellanova will post 3.62 earnings per share for the current 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 paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s dividend payout ratio is presently 83.90%.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP increased its position in Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares during the period. Bfsg LLC increased its position in Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. BNP Paribas acquired a new position in Kellanova during the 1st quarter worth approximately $30,000. Motco increased its position in Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, Blue Trust Inc. increased its position 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 purchasing an additional 206 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays raised their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. TD Cowen lifted their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. DA Davidson lifted their price objective on Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their target price on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.