Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $58.00, for a total value of $4,512,400.00. Following the sale, the insider now directly owns 51,842,238 shares in the company, valued at $3,006,849,804. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.8 %

NYSE K traded up $0.48 during trading hours on Monday, hitting $58.21. 2,957,053 shares of the company were exchanged, compared to its average volume of 3,098,992. The company has a 50 day moving average of $55.96 and a two-hundred day moving average of $54.33. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 2.21 and a beta of 0.40.

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

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.56 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 3.85%. Kellanova’s dividend payout ratio is currently 81.45%.

Wall Street Analysts Forecast Growth

K has been the topic of several research analyst reports. Piper Sandler upped their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company increased their price target on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus increased their price target on Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their price objective on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.27.

Institutional Trading of Kellanova

Several hedge funds have recently modified their holdings of the business. Oakworth Capital Inc. increased its position in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares in the last quarter. Bfsg LLC grew its position in shares of Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the period. Baker Avenue Asset Management LP grew its position in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the period. Motco grew its position in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the period. 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.