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 firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $82.44, for a total transaction of $9,446,222.52. Following the sale, the insider now owns 47,389,114 shares in the company, valued at $3,906,758,558.16. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Trading Down 0.0 %

Shares of K opened at $82.43 on Friday. Kellanova has a twelve month low of $55.01 and a twelve month 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 company’s fifty day simple moving average is $82.24 and its 200-day simple moving average is $81.33. The company has a market cap of $28.45 billion, a P/E ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. Kellanova’s payout ratio is currently 58.91%.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of K. California State Teachers Retirement System grew its holdings in shares of Kellanova by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 387,671 shares of the company’s stock worth $31,390,000 after purchasing an additional 2,773 shares during the last quarter. CIBRA Capital Ltd bought a new position in Kellanova in the 4th quarter worth about $29,989,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Kellanova by 8.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,184 shares of the company’s stock worth $1,310,000 after acquiring an additional 1,265 shares during the period. Siemens Fonds Invest GmbH raised its stake in shares of Kellanova by 257.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 33,532 shares of the company’s stock valued at $2,715,000 after acquiring an additional 24,153 shares in the last quarter. Finally, Menard Financial Group LLC purchased a new stake in shares of Kellanova in the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com started coverage on Kellanova in a research report on Friday. They set a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.