Insider Selling: Kellanova (NYSE:K) SVP Sells $588,490.00 in Stock

Kellanova (NYSE:K) SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at $1,572,769.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kellanova Price Performance

Shares of NYSE K opened at $61.60 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average of $56.54 and a two-hundred day moving average of $54.85. Kellanova has a twelve month low of $47.63 and a twelve month high of $71.19. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 2.32 and a beta of 0.39.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm posted $1.10 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.64%. Kellanova’s dividend payout ratio is currently 83.90%.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL boosted its position in Kellanova by 12.9% during the first quarter. Blair William & Co. IL now owns 30,175 shares of the company’s stock valued at $1,729,000 after purchasing an additional 3,441 shares during the last quarter. Wilkins Investment Counsel Inc. bought a new position in shares of Kellanova during the 1st quarter valued at $1,162,000. Picton Mahoney Asset Management increased its position in Kellanova by 844.7% during the first quarter. Picton Mahoney Asset Management now owns 76,549 shares of the company’s stock worth $4,384,000 after buying an additional 68,446 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Kellanova by 19.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 365,290 shares of the company’s stock worth $20,927,000 after acquiring an additional 58,259 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Kellanova by 7.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 311,719 shares of the company’s stock valued at $17,858,000 after acquiring an additional 20,995 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on K shares. DA Davidson boosted their price target on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company raised their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Citigroup assumed coverage on Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target on the stock. TD Cowen increased their price objective on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Barclays lifted their target price on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.85.

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.