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 on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total value of $9,280,077.17. Following the transaction, the insider now owns 49,337,025 shares in the company, valued at $3,995,805,654.75. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Trading Down 0.1 %

Kellanova stock traded down $0.10 during trading hours on Friday, reaching $80.92. 237,962 shares of the company’s stock traded hands, compared to its average volume of 3,007,191. The firm has a market capitalization of $27.89 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The firm’s 50 day moving average is $80.76 and its 200-day moving average is $70.50.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on K shares. Deutsche Bank Aktiengesellschaft increased their price objective on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Wells Fargo & Company raised their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Piper Sandler increased their target price on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research note on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.35.

Institutional Investors Weigh In On Kellanova

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Kellanova in the second quarter valued at about $29,000. CVA Family Office LLC raised its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after acquiring an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in Kellanova by 61.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. 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.