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 on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at approximately $4,062,201,136.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.0 %

Kellanova stock opened at $80.64 on Wednesday. The business’s 50-day simple moving average is $70.94 and its two-hundred day simple moving average is $62.50. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73. The company has a market cap of $27.57 billion, a PE ratio of 30.20, a PEG ratio of 2.57 and a beta of 0.39. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $80.97.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm posted $1.25 EPS. Kellanova’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s payout ratio is currently 85.39%.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler boosted their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada lowered shares of Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. DA Davidson downgraded Kellanova from a “buy” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Finally, Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $70.00 in a research report on Friday, August 2nd. Fourteen 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, the stock currently has a consensus rating of “Hold” and an average target price of $74.32.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in K. Blue Trust Inc. boosted its position in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. Family Firm Inc. purchased a new position in Kellanova during the second quarter valued at $29,000. BNP Paribas acquired a new stake in shares of Kellanova in the first quarter valued at about $30,000. Newbridge Financial Services Group Inc. increased its stake in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Motco raised its position in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. 83.87% of the stock is 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.