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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $82.26, for a total value of $9,425,597.58. Following the sale, the insider now directly owns 47,618,280 shares of the company’s stock, valued at approximately $3,917,079,712.80. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

NYSE K opened at $82.22 on Friday. Kellanova has a 1-year low of $52.53 and a 1-year high of $83.22. The company has a market capitalization of $28.38 billion, a P/E ratio of 21.24, a PEG ratio of 4.21 and a beta of 0.31. The business has a 50 day moving average price of $82.05 and a 200 day moving average price of $81.19. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Sell-side analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

Several analysts have commented on K shares. StockNews.com started coverage on Kellanova in a research note on Wednesday. They set a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price for the company in a research note on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $77.96.

Hedge Funds Weigh In On Kellanova

Several hedge funds have recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Kellanova during the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. grew its holdings in Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after buying an additional 173 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.