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 firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $80.64, for a total value of $9,239,973.12. Following the sale, the insider now directly owns 48,878,693 shares of the company’s stock, valued at $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $80.82 on Wednesday. The company has a market capitalization of $27.86 billion, a PE ratio of 27.77, a P/E/G ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company’s fifty day moving average is $80.81 and its 200-day moving average is $73.61. Kellanova has a 52 week low of $52.46 and a 52 week high of $81.34.

Kellanova (NYSE:K) last posted 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. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. Equities research analysts predict that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on K. StockNews.com started coverage on Kellanova in a report on Sunday. They issued a “hold” rating on the stock. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas cut 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. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Kellanova has an average rating of “Hold” and a consensus price target of $76.35.

Institutional Trading of Kellanova

Several large investors have recently made changes to their positions in K. D. E. Shaw & Co. Inc. increased its holdings in shares of Kellanova by 766.5% in 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 purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in Kellanova in the 2nd quarter valued at $88,065,000. Westchester Capital Management LLC acquired a new stake in shares of Kellanova in the 3rd quarter valued at $107,795,000. Point72 Asset Management L.P. bought a new stake in shares of Kellanova during the second quarter worth $63,585,000. Finally, Barclays PLC lifted its stake in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the period. Institutional investors own 83.87% of the company’s stock.

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.