Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now directly owns 48,764,110 shares of the company’s stock, valued at $3,942,578,293.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 Trading Down 0.4 %

Shares of K stock opened at $80.82 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $27.86 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.38. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34. The stock’s 50-day moving average price is $80.80 and its 200-day moving average price is $74.37.

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

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s payout ratio is 78.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on K shares. StockNews.com started coverage on Kellanova in a research note on Monday. They set a “hold” rating for the company. Argus lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Hedge Funds Weigh In On Kellanova

A number of institutional investors and hedge funds have recently made changes to their positions in K. International Assets Investment Management LLC purchased a new position in shares of Kellanova in the 2nd quarter worth approximately $63,000. Rothschild Investment LLC bought a new position in Kellanova during the second quarter valued at $669,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Kellanova in the second quarter valued at $353,000. IFG Advisory LLC lifted its holdings in shares of Kellanova by 1.4% in the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after acquiring an additional 189 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Kellanova by 157.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 10,912 shares of the company’s stock worth $619,000 after purchasing an additional 6,670 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.