Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 77,800 Shares of Stock

Kellanova (NYSE:KGet Free Report) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $53.44, for a total transaction of $4,157,632.00. Following the transaction, the insider now directly owns 52,386,838 shares of the company’s stock, valued at $2,799,552,622.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of K opened at $53.56 on Friday. The firm’s 50 day moving average is $54.80 and its 200-day moving average is $54.55. The stock has a market capitalization of $18.30 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.02 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30.

Kellanova (NYSE:KGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. Equities research analysts anticipate that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Kellanova by 95.3% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company’s stock valued at $27,405,000 after buying an additional 207,392 shares in the last quarter. HighTower Advisors LLC grew its position in Kellanova by 16.7% during the first quarter. HighTower Advisors LLC now owns 18,121 shares of the company’s stock valued at $1,167,000 after purchasing an additional 2,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Kellanova by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company’s stock valued at $2,208,000 after purchasing an additional 2,119 shares in the last quarter. Raymond James Trust N.A. grew its position in Kellanova by 46.9% during the first quarter. Raymond James Trust N.A. now owns 8,653 shares of the company’s stock valued at $558,000 after purchasing an additional 2,764 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in Kellanova by 6.4% during the first quarter. Cibc World Market Inc. now owns 38,670 shares of the company’s stock valued at $2,494,000 after purchasing an additional 2,313 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

K has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Stifel Nicolaus increased their price target on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. DA Davidson assumed coverage on Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Barclays raised their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.27.

Check Out Our Latest Stock Analysis on K

Kellanova Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Kellanova (NYSE:K)

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