Kellanova (NYSE:K) Major Shareholder Sells $9,449,660.01 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $82.47, for a total transaction of $9,449,660.01. Following the completion of the sale, the insider now directly owns 46,930,782 shares of the company’s stock, valued at $3,870,381,591.54. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 Performance

Kellanova stock opened at $82.72 on Thursday. The stock’s 50 day simple moving average is $82.40 and its two-hundred day simple moving average is $81.62. 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 stock has a market cap of $28.56 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.76%. Kellanova’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on K shares. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a research report on Monday, April 21st. They set a “buy” rating for the company. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.96.

Institutional Trading of Kellanova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Independent Advisor Alliance grew its stake in shares of Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock worth $583,000 after buying an additional 1,019 shares during the last quarter. Aviva PLC grew its stake in shares of Kellanova by 2.6% in the 4th quarter. Aviva PLC now owns 542,709 shares of the company’s stock worth $43,943,000 after buying an additional 13,531 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Kellanova in the 4th quarter worth approximately $384,000. Barclays PLC grew its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Kellanova in the 4th quarter worth approximately $2,490,000. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.