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 stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $81.79, for a total value of $9,371,743.57. Following the completion of the transaction, the insider now directly owns 46,701,616 shares of the company’s stock, valued at approximately $3,819,725,172.64. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of Kellanova stock opened at $82.11 on Friday. The business has a fifty day simple moving average of $82.37 and a 200-day simple moving average of $81.74. The stock has a market cap of $28.49 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.78%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in K. Grove Bank & Trust acquired a new position in shares of Kellanova in the 1st quarter valued at $25,000. Financial Network Wealth Advisors LLC acquired a new position in Kellanova in the first quarter worth about $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova in the first quarter worth about $27,000. Stonebridge Financial Group LLC acquired a new position in Kellanova in the fourth quarter worth about $27,000. Finally, BankPlus Trust Department acquired a new position in shares of Kellanova in the 4th quarter worth approximately $28,000. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on K shares. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $79.41.

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.