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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $82.41, for a total transaction of $9,442,785.03. Following the transaction, the insider now directly owns 47,159,948 shares of the company’s stock, valued at approximately $3,886,451,314.68. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Price Performance

K stock opened at $82.45 on Tuesday. The firm has a market cap of $28.46 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The stock has a 50-day simple moving average of $82.35 and a 200-day simple moving average of $81.48. Kellanova has a 1 year low of $55.01 and a 1 year high of $83.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

K has been the subject of several research analyst reports. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com began coverage on Kellanova in a report on Sunday. They set a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.96.

Institutional Trading of Kellanova

A number of hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. grew its stake in Kellanova by 3.8% in the first quarter. UMB Bank n.a. now owns 5,284 shares of the company’s stock worth $436,000 after purchasing an additional 192 shares in the last quarter. Curat Global LLC bought a new stake in shares of Kellanova in the 1st quarter valued at approximately $1,085,000. Merit Financial Group LLC increased its holdings in shares of Kellanova by 26.6% in the 1st quarter. Merit Financial Group LLC now owns 6,268 shares of the company’s stock valued at $517,000 after acquiring an additional 1,316 shares during the last quarter. NBC Securities Inc. raised its position in shares of Kellanova by 109,600.0% during the 1st quarter. NBC Securities Inc. now owns 4,388 shares of the company’s stock valued at $361,000 after acquiring an additional 4,384 shares in the last quarter. Finally, Czech National Bank lifted its stake in Kellanova by 5.9% during the first quarter. Czech National Bank now owns 61,754 shares of the company’s stock worth $5,094,000 after purchasing an additional 3,458 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.