Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the transaction, the insider now directly owns 48,420,361 shares of the company’s stock, valued at $3,955,459,290.09. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

K opened at $81.70 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The business’s fifty day simple moving average is $80.98 and its 200-day simple moving average is $77.04. The company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 2.50 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.82.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. On average, equities research analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.57 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Kellanova

Institutional investors have recently made changes to their positions in the business. Investors Research Corp increased its stake in Kellanova by 1.0% during the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after purchasing an additional 125 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the last quarter. MCF Advisors LLC increased its position in shares of Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. S.A. Mason LLC raised its stake in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock worth $160,000 after acquiring an additional 140 shares during the last quarter. Finally, 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 acquiring an additional 145 shares during the period. Institutional investors and hedge funds 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.