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 Kellanova stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the sale, the insider now owns 51,842,238 shares in the company, valued at $3,006,849,804. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.6 %

Shares of NYSE K opened at $57.86 on Wednesday. The company’s 50 day simple moving average is $56.05 and its 200 day simple moving average is $54.45. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The firm has a market capitalization of $19.77 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.87%. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently bought and sold shares of K. Czech National Bank raised its holdings in Kellanova by 51.4% in the third quarter. Czech National Bank now owns 46,073 shares of the company’s stock worth $2,742,000 after purchasing an additional 15,642 shares during the period. Brookstone Capital Management raised its holdings in Kellanova by 2.9% in the third quarter. Brookstone Capital Management now owns 220,470 shares of the company’s stock worth $13,120,000 after purchasing an additional 6,127 shares during the period. LFA Lugano Financial Advisors SA raised its holdings in Kellanova by 50.0% in the third quarter. LFA Lugano Financial Advisors SA now owns 1,770 shares of the company’s stock worth $99,000 after purchasing an additional 590 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Kellanova by 4.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 119,758 shares of the company’s stock worth $7,127,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Toews Corp ADV bought a new stake in shares of Kellanova during the third quarter worth $786,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup initiated coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. DA Davidson initiated coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Kellanova 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.