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 on Friday, February 28th. The shares were sold at an average price of $82.70, for a total value of $9,476,014.10. Following the completion of the sale, the insider now owns 47,847,446 shares of the company’s stock, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Performance

NYSE:K opened at $82.90 on Friday. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.94. The firm has a 50 day moving average of $81.77 and a 200-day moving average of $81.01. 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 stock has a market capitalization of $28.62 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. As a group, sell-side analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, March 3rd. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Kellanova by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company’s stock worth $2,626,322,000 after purchasing an additional 281,137 shares during the period. State Street Corp lifted its position in Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares in the last quarter. Geode Capital Management LLC lifted its position in Kellanova by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company’s stock worth $556,014,000 after buying an additional 158,560 shares in the last quarter. Pentwater Capital Management LP lifted its position in Kellanova by 8.5% during the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company’s stock worth $465,982,000 after buying an additional 450,700 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Kellanova by 2.7% during the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company’s stock worth $337,489,000 after buying an additional 111,396 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on K shares. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price objective for the company in a report on Tuesday, February 18th. StockNews.com began coverage on Kellanova in a research report on Monday, February 24th. They set 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 MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $77.96.

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.