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 Kellanova stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $82.47, for a total value of $9,449,660.01. Following the completion of the sale, the insider now owns 46,930,782 shares of the company’s stock, valued at $3,870,381,591.54. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.2 %

Kellanova stock opened at $82.43 on Tuesday. The firm has a 50 day moving average of $82.39 and a 200 day moving average of $81.61. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. As a group, research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Grove Bank & Trust bought a new position in Kellanova in the 1st quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new position in Kellanova in the 4th quarter worth approximately $27,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the 1st quarter worth approximately $27,000. BankPlus Trust Department bought a new position in Kellanova in the 4th quarter worth approximately $28,000. Finally, Rialto Wealth Management LLC bought a new position in Kellanova in the 4th quarter worth approximately $32,000. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com began coverage on Kellanova in a research note on Monday, April 21st. They set a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $77.96.

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.