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

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 22nd. The stock was sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the sale, the insider now directly owns 51,920,038 shares in the company, valued at approximately $2,998,901,394.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

Shares of NYSE K opened at $57.98 on Tuesday. Kellanova has a 1 year low of $47.63 and a 1 year high of $72.30. 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 company’s fifty day moving average price is $55.68 and its 200 day moving average price is $54.10. The company has a market capitalization of $19.82 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank purchased a new stake in Kellanova during the 3rd quarter worth approximately $4,974,000. Raymond James & Associates increased its position in shares of Kellanova by 11.9% during the fourth quarter. Raymond James & Associates now owns 400,371 shares of the company’s stock worth $22,385,000 after purchasing an additional 42,656 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in Kellanova by 25.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 46,127 shares of the company’s stock valued at $2,745,000 after purchasing an additional 9,434 shares during the last quarter. CX Institutional lifted its holdings in Kellanova by 52.9% in the 4th quarter. CX Institutional now owns 59,975 shares of the company’s stock valued at $3,353,000 after purchasing an additional 20,752 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. acquired a new stake in Kellanova during the 3rd quarter worth $3,248,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on K shares. Piper Sandler lifted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Stifel Nicolaus boosted 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. 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. DA Davidson initiated coverage on Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. Finally, Citigroup started coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.27.

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.