Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $9,305,285.43 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares of the company’s stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of NYSE:K opened at $81.29 on Monday. The firm’s 50 day moving average price is $80.82 and its 200-day moving average price is $71.39. Kellanova has a twelve month low of $51.02 and a twelve month high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $28.02 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analyst Ratings Changes

K has been the subject of several research reports. Barclays upped their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Stifel Nicolaus upped their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, August 12th. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $76.35.

Institutional Investors Weigh In On Kellanova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares during the period. Family Firm Inc. bought a new stake in Kellanova during the 2nd quarter worth approximately $29,000. CVA Family Office LLC raised its stake in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, MCF Advisors LLC raised its position in shares of Kellanova by 48.8% during the third 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. Institutional investors own 83.87% of the company’s stock.

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.