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 Kellanova stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the completion of the transaction, the insider now owns 48,420,361 shares in the company, valued at approximately $3,955,459,290.09. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Trading Up 0.0 %

Shares of Kellanova stock opened at $81.70 on Thursday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $81.82. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The company has a market capitalization of $28.16 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.50 and a beta of 0.37. The company has a fifty day moving average of $80.98 and a 200 day moving average of $77.04.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors 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 yield of 2.79%. Kellanova’s payout ratio is 78.35%.

Institutional Trading of Kellanova

Several hedge funds have recently bought and sold shares of the stock. Perigon Wealth Management LLC bought a new position in shares of Kellanova during the 4th quarter valued at approximately $218,000. VCI Wealth Management LLC lifted its position in Kellanova by 19.0% during the fourth quarter. VCI Wealth Management LLC now owns 15,769 shares of the company’s stock valued at $1,277,000 after purchasing an additional 2,518 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Kellanova by 3.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 6,236 shares of the company’s stock worth $505,000 after buying an additional 196 shares in the last quarter. KBC Group NV increased its holdings in shares of Kellanova by 29.1% in the 4th quarter. KBC Group NV now owns 70,037 shares of the company’s stock worth $5,671,000 after buying an additional 15,803 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Kellanova by 821.7% during the 4th quarter. Blue Trust Inc. now owns 4,028 shares of the company’s stock valued at $325,000 after buying an additional 3,591 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

K has been the subject of a number of recent research reports. StockNews.com assumed coverage on Kellanova in a research note on Thursday. They issued a “hold” rating for the company. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.