Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the transaction, the insider now owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.1 %

Kellanova stock opened at $81.34 on Wednesday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The firm’s 50-day simple moving average is $80.84 and its 200 day simple moving average is $75.33. The stock has a market cap of $28.04 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Institutional Investors Weigh In On Kellanova

Large investors have recently made changes to their positions in the business. CVA Family Office LLC lifted its stake in Kellanova by 529.3% in the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the period. MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the period. Finally, Mather Group LLC. increased its holdings in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on K shares. StockNews.com initiated coverage on Kellanova in a research report on Tuesday. They set a “hold” rating on the stock. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Finally, Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.