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 company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.96, for a total transaction of $9,276,639.68. Following the completion of the sale, the insider now owns 49,795,357 shares in the company, valued at approximately $4,031,432,102.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of Kellanova stock traded up $0.14 on Monday, hitting $81.19. The company had a trading volume of 2,157,567 shares, compared to its average volume of 3,122,251. The business has a 50-day simple moving average of $80.19 and a 200-day simple moving average of $66.65. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48. The company has a market cap of $27.76 billion, a PE ratio of 30.36, a PEG ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $49.28 and a 52 week high of $81.26.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. Research analysts expect that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, September 3rd. Kellanova’s dividend payout ratio (DPR) is presently 85.39%.

Institutional Trading of Kellanova

Large investors have recently added to or reduced their stakes in the business. CVA Family Office LLC boosted its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares in the last quarter. Blue Trust Inc. boosted its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. acquired a new position in Kellanova in the 2nd quarter worth approximately $29,000. BNP Paribas acquired a new position in Kellanova in the 1st quarter worth approximately $30,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on K. DA Davidson lowered shares of Kellanova from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Piper Sandler increased their price objective on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. StockNews.com began coverage on shares of Kellanova in a research note on Saturday. They set a “hold” rating on the stock. Barclays increased their price objective on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus increased their price objective on shares of Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.32.

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.