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 business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the sale, the insider now directly owns 47,389,114 shares in the company, valued at approximately $3,906,758,558.16. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Shares of NYSE:K opened at $82.43 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The firm has a market cap of $28.45 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a 50-day simple moving average of $82.24 and a two-hundred day simple moving average of $81.33. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS 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%. On average, analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on K. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com assumed coverage on Kellanova in a research report on Friday. They issued a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and a consensus price target of $77.96.

Hedge Funds Weigh In On Kellanova

Institutional investors and hedge funds have recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova in the fourth quarter worth approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Kellanova in the 4th quarter worth $32,000. Finally, First Horizon Advisors Inc. raised its holdings in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after purchasing an additional 173 shares during the period. 83.87% of the stock is currently owned by hedge funds and other 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.