Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the transaction, the insider now directly owns 47,389,114 shares of the company’s stock, valued at $3,906,758,558.16. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Down 0.0 %

Shares of NYSE K traded down $0.03 during trading hours on Friday, hitting $82.43. 1,328,230 shares of the stock were exchanged, compared to its average volume of 2,673,641. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The firm has a fifty day moving average price of $82.22 and a 200-day moving average price of $81.31. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market cap of $28.45 billion, a PE ratio of 21.30, a PEG ratio of 4.21 and a beta of 0.31.

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 analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, sell-side analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on K shares. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com initiated coverage on Kellanova in a research note on Friday. They set a “hold” rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.96.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new position in Kellanova in the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova in the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new stake in Kellanova during the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares in 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.