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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares in the company, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

K opened at $81.53 on Thursday. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37. The company’s fifty day moving average price is $80.85 and its two-hundred day moving average price is $75.50. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.58. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating 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 business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued 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 of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is 78.35%.

Institutional Trading of Kellanova

Several institutional investors have recently made changes to their positions in the company. CVA Family Office LLC lifted its holdings in Kellanova by 529.3% during the third 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. MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares during the last quarter. Finally, Mather Group LLC. grew its position in Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares during the period. Institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.