Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Monday, April 29th. The stock was sold at an average price of $58.00, for a total transaction of $4,512,400.00. Following the transaction, the insider now directly owns 51,842,238 shares in the company, valued at $3,006,849,804. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

Shares of K opened at $56.98 on Thursday. The firm has a 50-day moving average of $56.06 and a 200-day moving average of $54.47. Kellanova has a one year low of $47.63 and a one year high of $72.30. The company has a market cap of $19.47 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 2.23 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on K shares. Wells Fargo & Company lifted their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. DA Davidson started coverage on shares of Kellanova in a report on Friday, March 1st. They set a “buy” rating and a $67.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Piper Sandler raised their price objective on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Barclays raised their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Kellanova has a consensus rating of “Hold” and an average price target of $62.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Oakworth Capital Inc. boosted its holdings in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the period. Baker Avenue Asset Management LP boosted its holdings in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the period. Bfsg LLC boosted its holdings in shares of Kellanova by 64.5% during the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 200 shares during the period. Motco boosted its holdings in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Kellanova by 55.1% in the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares during the period. Institutional investors 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.