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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $57.71, for a total transaction of $4,489,838.00. Following the completion of the sale, the insider now directly owns 51,297,638 shares of the company’s stock, valued at $2,960,386,688.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 1.4 %

K stock opened at $58.26 on Tuesday. The company’s 50 day simple moving average is $59.61 and its 200-day simple moving average is $56.76. The firm has a market capitalization of $19.92 billion, a PE ratio of 21.82, a P/E/G ratio of 2.05 and a beta of 0.35. Kellanova has a 12 month low of $47.63 and a 12 month high of $68.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. Equities analysts expect that Kellanova will post 3.61 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a $0.56 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.84%. Kellanova’s dividend payout ratio is presently 83.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on K. DA Davidson upped their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Barclays increased their price target on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.83.

Institutional Trading of Kellanova

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Kellanova during the fourth quarter worth approximately $150,184,000. Vanguard Group Inc. boosted its holdings in shares of Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. Anchor Capital Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $38,939,000. Boston Partners boosted its holdings in shares of Kellanova by 117.1% in the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after purchasing an additional 689,395 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its holdings in shares of Kellanova by 15.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock valued at $273,504,000 after purchasing an additional 655,686 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Company Profile

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.