Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $82.41, for a total transaction of $9,442,785.03. Following the transaction, the insider now directly owns 47,159,948 shares of the company’s stock, valued at approximately $3,886,451,314.68. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.2 %

K stock opened at $82.31 on Wednesday. Kellanova has a 1-year low of $55.01 and a 1-year high of $83.22. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $82.35 and its 200-day moving average is $81.48. The firm has a market cap of $28.41 billion, a P/E ratio of 21.27, a P/E/G ratio of 4.21 and a beta of 0.34.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating 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%. Equities analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is currently 58.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com initiated coverage on Kellanova in a research report on Sunday. They set a “hold” rating for the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $77.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its position in Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company’s stock valued at $1,870,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after buying an additional 145 shares in the last quarter. OneAscent Financial Services LLC grew its holdings in Kellanova by 4.7% during the 4th quarter. OneAscent Financial Services LLC now owns 3,315 shares of the company’s stock worth $268,000 after acquiring an additional 149 shares during the last quarter. Finally, SPC Financial Inc. increased its position in Kellanova by 5.7% in the 4th quarter. SPC Financial Inc. now owns 2,976 shares of the company’s stock valued at $241,000 after acquiring an additional 160 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

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.