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 business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.85, for a total transaction of $9,264,035.55. Following the completion of the transaction, the insider now directly owns 48,764,110 shares of the company’s stock, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Up 0.2 %

NYSE:K opened at $80.97 on Wednesday. The firm has a market capitalization of $27.91 billion, a P/E ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.38. The business has a 50 day simple moving average of $80.80 and a 200 day simple moving average of $74.52. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Equities research analysts predict that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on K shares. StockNews.com began coverage on Kellanova in a research note on Monday. They set a “hold” rating on the stock. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus target price of $76.35.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB boosted its holdings in shares of Kellanova by 20.5% in the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock valued at $22,076,000 after acquiring an additional 46,450 shares in the last quarter. Toronto Dominion Bank boosted its stake in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Barclays PLC increased its position in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kellanova in the 3rd quarter worth $4,211,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.