Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the sale, the insider now owns 48,534,944 shares of the company’s stock, valued at approximately $3,951,715,140.48. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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

NYSE:K traded down $0.11 during midday trading on Tuesday, reaching $81.40. 2,302,142 shares of the company traded hands, compared to its average volume of 2,048,818. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58. The firm has a market capitalization of $28.06 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a fifty day moving average price of $80.91 and a 200 day moving average price of $76.00.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts expect that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Institutional Trading of Kellanova

Several hedge funds have recently added to or reduced their stakes in K. CVA Family Office LLC raised its stake in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after buying an additional 200 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on K shares. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. StockNews.com started coverage on Kellanova in a research note on Tuesday, January 7th. They set a “hold” rating for the company. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.35.

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.