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 stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total value of $9,280,077.17. Following the transaction, the insider now owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Trading Up 0.2 %

Kellanova stock opened at $81.17 on Friday. The firm has a 50-day moving average price of $80.77 and a two-hundred day moving average price of $70.58. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 52-week low of $51.02 and a 52-week high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Sell-side analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.81%. Kellanova’s dividend payout ratio is presently 78.35%.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Kellanova by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,312 shares of the company’s stock worth $150,909,000 after purchasing an additional 277,171 shares in the last quarter. Yacktman Asset Management LP raised its holdings in Kellanova by 0.5% during the 2nd quarter. Yacktman Asset Management LP now owns 2,141,913 shares of the company’s stock worth $123,546,000 after buying an additional 10,510 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Kellanova in a report on Monday, August 12th. They issued a “neutral” rating and a $75.00 price target on the stock. Barclays increased their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $83.50 in a report on Monday, August 26th. Evercore ISI raised Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

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.