Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $9,264,035.55 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the transaction, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.2 %

K stock opened at $80.97 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average price of $80.80 and a two-hundred day moving average price of $74.69. The company has a market cap of $27.91 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.59 and a beta of 0.38. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.34.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. 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 was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.82%. Kellanova’s dividend payout ratio is currently 78.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Friday, November 1st. StockNews.com assumed coverage on Kellanova in a research report on Monday. They set a “hold” rating on the stock. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB boosted its stake in shares of Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares during the period. Toronto Dominion Bank lifted its holdings in Kellanova by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares during the last quarter. Barclays PLC lifted its holdings in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Kellanova during the 3rd quarter worth approximately $4,211,000. 83.87% of the stock is currently owned by institutional investors.

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.