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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $80.72, for a total transaction of $9,249,139.76. Following the transaction, the insider now owns 50,139,106 shares in the company, valued at approximately $4,047,228,636.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Down 0.1 %

K stock opened at $80.71 on Tuesday. Kellanova has a one year low of $47.63 and a one year high of $81.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The firm’s fifty day moving average is $75.15 and its 200 day moving average is $64.19. The firm has a market cap of $27.59 billion, a PE ratio of 30.23, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last posted its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.25 EPS. On average, research analysts forecast that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is 85.39%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on K shares. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research note on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research note on Monday, August 5th. Barclays raised their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average price target of $74.32.

Institutional Investors Weigh In On Kellanova

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Kellanova by 1.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock worth $566,000 after buying an additional 180 shares in the last quarter. IFG Advisory LLC grew its stake in Kellanova by 1.4% during the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock valued at $797,000 after acquiring an additional 189 shares in the last quarter. Eukles Asset Management raised its holdings in Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after acquiring an additional 193 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.