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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the completion of the transaction, the insider now directly owns 47,847,446 shares of the company’s stock, valued at approximately $3,956,983,784.20. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Trading Up 0.5 %

K traded up $0.40 during trading on Friday, hitting $82.90. 3,385,966 shares of the stock traded hands, compared to its average volume of 2,405,666. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.94. The firm has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37. The firm has a 50-day moving average of $81.72 and a 200 day moving average of $80.95.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Equities research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. Kellanova’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas cut shares of 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 assumed coverage on shares of Kellanova in a research note on Monday. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a research note on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Institutional Trading of Kellanova

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after acquiring an additional 8,686 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Kellanova in the fourth quarter worth approximately $384,000. Barclays PLC boosted its holdings in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Kellanova in the third quarter worth approximately $4,211,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.