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

Kellanova Stock Up 0.1 %

K stock opened at $82.40 on Friday. The stock has a market capitalization of $28.44 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a one year low of $55.01 and a one year high of $83.22. The company has a 50 day moving average price of $82.14 and a two-hundred day moving average price of $81.25.

Kellanova (NYSE:K) last released its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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 expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on K. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating for the company. Fourteen investment 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.com, the company currently has an average rating of “Hold” and an average price target of $77.96.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $27,000. BankPlus Trust Department acquired a new position in shares of Kellanova during the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new position in shares of Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova during the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares in the last quarter. 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.