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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated 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 owns 47,732,863 shares of the company’s stock, valued at $3,940,347,840.65. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Kellanova stock opened at $82.45 on Friday. Kellanova has a 1 year low of $52.46 and a 1 year high of $83.22. The firm has a 50 day moving average price of $81.92 and a 200 day moving average price of $81.13. The company has a market cap of $28.46 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. 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 (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Sell-side analysts predict that Kellanova will post 3.93 earnings per share 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 payout ratio is 58.91%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Kellanova

A number of institutional investors have recently bought and sold shares of K. Toronto Dominion Bank lifted its position in Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after buying an additional 8,686 shares in the last quarter. Principal Financial Group Inc. lifted its position in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares in the last quarter. Wedmont Private Capital acquired a new position in Kellanova during the fourth quarter valued at approximately $384,000. Barclays PLC lifted its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Kellanova during the third quarter valued at approximately $4,211,000. 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.