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 business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $82.31, for a total value of $9,431,326.73. Following the sale, the insider now directly owns 47,503,697 shares in the company, valued at $3,910,029,300.07. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.1 %

Shares of NYSE K traded up $0.07 during mid-day trading on Friday, reaching $82.40. 3,087,145 shares of the company traded hands, compared to its average volume of 2,555,861. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The stock has a market cap of $28.44 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company’s fifty day moving average is $82.12 and its two-hundred day moving average is $81.24. Kellanova has a fifty-two week low of $54.70 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

K has been the subject of several research analyst reports. StockNews.com initiated coverage on Kellanova in a research note on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kellanova has a consensus rating of “Hold” and a consensus price target of $77.96.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new stake in shares of Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department bought a new position in Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova during the 4th quarter worth about $32,000. Finally, First Horizon Advisors Inc. increased its position in Kellanova by 64.8% during the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after acquiring an additional 173 shares during the period. Institutional investors own 83.87% of the company’s stock.

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.