Kellogg W. K. Foundation Trust Sells 77,800 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $55.35, for a total value of $4,306,230.00. Following the completion of the sale, the insider now directly owns 51,997,838 shares in the company, valued at $2,878,080,333.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of K stock traded down $0.02 during mid-day trading on Monday, reaching $55.40. 1,655,499 shares of the company’s stock traded hands, compared to its average volume of 3,195,736. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The firm has a 50 day moving average price of $55.41 and a two-hundred day moving average price of $54.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. The firm has a market capitalization of $18.93 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, research analysts forecast that Kellanova will post 3.57 EPS for the current year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio is currently 81.45%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Kellanova by 0.3% during the 1st quarter. International Assets Investment Management LLC now owns 51,858 shares of the company’s stock valued at $170,000 after purchasing an additional 159 shares during the last quarter. Castleview Partners LLC boosted its holdings in shares of Kellanova by 5.4% during the 1st quarter. Castleview Partners LLC now owns 3,218 shares of the company’s stock valued at $215,000 after purchasing an additional 164 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Kellanova by 1.7% during the 1st quarter. Moors & Cabot Inc. now owns 10,272 shares of the company’s stock valued at $662,000 after purchasing an additional 169 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Kellanova by 2.7% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 6,744 shares of the company’s stock valued at $470,000 after purchasing an additional 178 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Kellanova by 0.5% during the 3rd quarter. M&T Bank Corp now owns 38,834 shares of the company’s stock valued at $2,707,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on K shares. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. DA Davidson started coverage on shares of Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. Citigroup started coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average price target of $62.27.

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.