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 Kellanova stock in a transaction on Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the transaction, the insider now owns 47,847,446 shares in the company, valued at approximately $3,956,983,784.20. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Trading Up 0.5 %

K opened at $82.90 on Friday. The firm’s 50 day moving average is $81.77 and its 200-day moving average is $80.96. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.94. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Institutional Investors Weigh In On Kellanova

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock valued at $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. State Street Corp increased its stake in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the last quarter. Geode Capital Management LLC grew its stake in Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock worth $556,014,000 after purchasing an additional 158,560 shares in the last quarter. Pentwater Capital Management LP grew its position in shares of Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company’s stock worth $465,982,000 after acquiring an additional 450,700 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock worth $337,489,000 after purchasing an additional 111,396 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on K shares. StockNews.com started coverage on shares of Kellanova in a report on Monday, February 24th. They issued a “hold” rating on the stock. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Finally, Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.96.

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.