Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $9,313,306.24 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total transaction of $9,313,306.24. Following the completion of the sale, the insider now owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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

Shares of NYSE K opened at $81.53 on Friday. 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 one year low of $52.46 and a one year high of $81.58. The firm has a market capitalization of $28.10 billion, a P/E ratio of 28.02, a PEG ratio of 2.59 and a beta of 0.37. The company’s fifty day moving average is $80.87 and its two-hundred day moving average is $75.54.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Hedge Funds Weigh In On Kellanova

Several hedge funds and other institutional investors have recently bought and sold shares of K. D. E. Shaw & Co. Inc. grew its holdings in Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Kellanova in the 2nd quarter worth about $88,065,000. Westchester Capital Management LLC acquired a new stake in Kellanova in the 3rd quarter valued at about $107,795,000. Point72 Asset Management L.P. purchased a new position in Kellanova during the 2nd quarter valued at about $63,585,000. Finally, Barclays PLC raised its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

K has been the topic of a number of recent research reports. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on Kellanova in a research report on Tuesday. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and a consensus price target of $76.35.

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.