Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, June 9th. The shares were sold at an average price of $81.89, for a total transaction of $9,383,201.87. Following the completion of the transaction, the insider now owns 46,357,867 shares in the company, valued at approximately $3,796,245,728.63. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Down 0.1%

NYSE:K traded down $0.11 during mid-day trading on Monday, reaching $81.95. The stock had a trading volume of 1,690,205 shares, compared to its average volume of 2,768,472. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The stock’s 50 day simple moving average is $82.33 and its two-hundred day simple moving average is $81.91. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K) last issued its quarterly earnings data 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). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

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 given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.78%. Kellanova’s dividend payout ratio (DPR) is presently 57.58%.

Institutional Investors Weigh In On Kellanova

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Grove Bank & Trust purchased a new stake in Kellanova during the first quarter valued at about $25,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Kellanova in the first quarter worth approximately $25,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Kellanova during the first quarter valued at approximately $27,000. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova in the 4th quarter valued at approximately $27,000. Finally, BankPlus Trust Department purchased a new position in Kellanova during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analysts Set New Price Targets

K has been the topic of a number of analyst reports. Wall Street Zen lowered Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Citigroup raised shares of Kellanova to a “neutral” rating and set a $83.50 price objective for the company in a research report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Kellanova has an average rating of “Hold” and a consensus target price of $79.75.

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.