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 on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the sale, the insider now directly owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.2 %

K opened at $81.17 on Friday. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a 50-day simple moving average of $80.77 and a two-hundred day simple moving average of $70.65. The company has a market capitalization of $27.98 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Hedge Funds Weigh In On Kellanova

A number of institutional investors and hedge funds have recently made changes to their positions in K. Investors Research Corp increased its position in shares of Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares during the last quarter. Assetmark Inc. lifted its position in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares during the last quarter. MCF Advisors LLC boosted its stake in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. S.A. Mason LLC increased its position in Kellanova by 7.6% during the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after acquiring an additional 140 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on K. Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a report on Thursday, August 15th. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Barclays upped their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.35.

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.