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 firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $82.26, for a total value of $9,425,597.58. Following the sale, the insider now owns 47,618,280 shares in the company, valued at $3,917,079,712.80. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.1 %

Shares of K opened at $82.22 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $28.38 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The stock’s fifty day simple moving average is $82.05 and its 200 day simple moving average is $81.19. Kellanova has a twelve month low of $52.53 and a twelve month high of $83.22.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC purchased a new position in Kellanova in the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new position in Kellanova in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova in the fourth quarter valued at about $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova during the fourth quarter worth about $32,000. Finally, First Horizon Advisors Inc. increased its position in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on K shares. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective on the stock in a report on Tuesday, February 18th. StockNews.com started coverage on Kellanova in a report on Wednesday. They set a “hold” rating on the stock. Thirteen investment 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, the stock presently has a consensus rating of “Hold” and an average target price 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.