Kellanova (NYSE:K) Major Shareholder Sells $4,489,838.00 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $57.71, for a total value of $4,489,838.00. Following the transaction, the insider now directly owns 51,297,638 shares of the company’s stock, valued at approximately $2,960,386,688.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

NYSE K opened at $57.39 on Thursday. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.06 and a beta of 0.35. Kellanova has a 1-year low of $47.63 and a 1-year high of $68.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The business’s fifty day moving average price is $59.66 and its 200-day moving average price is $56.79.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. Kellanova’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, equities analysts predict that Kellanova will post 3.61 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.90%. Kellanova’s dividend payout ratio (DPR) is 83.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on K. DA Davidson raised their price target on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, May 9th. TD Cowen lifted their target price on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their price target on shares of Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Barclays raised their price target on shares of Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.83.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its stake in shares of Kellanova by 10.1% in the 4th quarter. Intech Investment Management LLC now owns 263,880 shares of the company’s stock worth $14,754,000 after purchasing an additional 24,124 shares in the last quarter. Jump Financial LLC bought a new position in shares of Kellanova in the fourth quarter worth about $8,178,000. International Assets Investment Management LLC raised its stake in shares of Kellanova by 133.4% in the fourth quarter. International Assets Investment Management LLC now owns 60,885 shares of the company’s stock worth $3,404,000 after buying an additional 34,800 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Kellanova during the 4th quarter valued at about $889,000. Finally, Banque Cantonale Vaudoise grew its stake in shares of Kellanova by 35.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock valued at $4,566,000 after acquiring an additional 20,866 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

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.