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 the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.0 %

K opened at $82.45 on Friday. 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 has a 1-year low of $52.46 and a 1-year high of $83.22. The company has a market capitalization of $28.46 billion, a PE ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. The firm’s 50 day simple moving average is $81.92 and its two-hundred day simple moving average is $81.12.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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, equities analysts forecast that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

K has been the topic of several research reports. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 target price on the stock in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Kellanova in a report on Tuesday. They issued a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.96.

Institutional Trading of Kellanova

Several institutional investors and hedge funds have recently modified their holdings of K. Norges Bank bought a new stake in shares of Kellanova during the 4th quarter valued at $285,126,000. Franklin Resources Inc. increased its holdings in Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares during the last quarter. FIL Ltd increased its holdings in Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Westchester Capital Management LLC bought a new stake in Kellanova in the 3rd quarter valued at $107,795,000. Finally, Barclays PLC increased its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

About Kellanova

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.