Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the sale, the insider now owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.15 during trading hours on Friday, hitting $81.30. The company’s stock had a trading volume of 1,053,882 shares, compared to its average volume of 2,993,079. The company has a market cap of $28.02 billion, a PE ratio of 27.89, a PEG ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business has a 50 day moving average price of $80.81 and a two-hundred day moving average price of $71.19. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Analysts expect that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.80%. Kellanova’s payout ratio is 78.35%.

Institutional Trading of Kellanova

Hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. raised its holdings in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after acquiring an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. bought a new position in Kellanova during the second quarter valued at $88,065,000. Westchester Capital Management LLC purchased a new position in shares of Kellanova in the 3rd quarter worth $107,795,000. Point72 Asset Management L.P. bought a new stake in shares of Kellanova in the 2nd quarter worth about $63,585,000. Finally, Barclays PLC raised its position in shares of Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on K. JPMorgan Chase & Co. upped their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. StockNews.com assumed coverage on shares of Kellanova in a research report on Thursday. They set a “hold” rating for the company. DA Davidson cut shares of Kellanova from a “buy” rating to a “neutral” rating and upped their target price for the company from $80.00 to $83.50 in a report on Monday, August 26th. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.35.

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.