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 the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the transaction, the insider now owns 49,337,025 shares of the company’s stock, valued at approximately $3,995,805,654.75. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Shares of NYSE K traded up $0.17 during mid-day trading on Thursday, reaching $80.96. The company’s stock had a trading volume of 1,359,249 shares, compared to its average volume of 3,019,445. The stock has a fifty day moving average of $80.75 and a two-hundred day moving average of $70.43. The firm has a market capitalization of $27.91 billion, a PE ratio of 27.76, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $1.03 earnings per share. Kellanova’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.82%. Kellanova’s dividend payout ratio (DPR) is presently 78.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CVA Family Office LLC grew its stake in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. MCF Advisors LLC increased its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares during the period. Blue Trust Inc. grew its stake in Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after acquiring an additional 170 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Kellanova during the second quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Kellanova by 61.9% during 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. Institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on K. JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler increased their target price on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Stifel Nicolaus lifted their price target on Kellanova from $64.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada lowered Kellanova from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $76.35.

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.