Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of 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 Wednesday, May 21st. The stock was sold at an average price of $82.24, for a total value of $9,423,305.92. Following the sale, the insider now directly owns 46,587,033 shares in the company, valued at $3,831,317,593.92. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

K stock opened at $82.39 on Friday. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. 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’s 50 day moving average price is $82.37 and its 200 day moving average price is $81.80. The firm has a market cap of $28.58 billion, a P/E ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. On average, sell-side analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on K shares. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.41.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Independent Advisor Alliance raised its holdings in Kellanova by 16.5% in the 4th quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after acquiring an additional 1,019 shares during the last quarter. Aviva PLC increased its holdings in shares of Kellanova by 2.6% during 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. Barclays PLC increased its holdings in shares of 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 buying an additional 1,033,383 shares during the last quarter. Alpine Associates Management Inc. increased its holdings in shares of Kellanova by 93.5% during the 4th quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock worth $49,622,000 after buying an additional 296,150 shares during the last quarter. Finally, Decagon Asset Management LLP acquired a new stake in shares of Kellanova during the 4th quarter worth $10,125,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.