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 firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $81.79, for a total transaction of $9,371,743.57. Following the sale, the insider now directly owns 46,701,616 shares of the company’s stock, valued at approximately $3,819,725,172.64. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.4%

Kellanova stock opened at $82.11 on Friday. The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 4.21 and a beta of 0.30. The company’s 50 day simple moving average is $82.37 and its 200 day simple moving average is $81.74. 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 fifty-two week low of $55.96 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm 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%. Kellanova’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. As a group, sell-side 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 issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.78%. Kellanova’s dividend payout ratio (DPR) is currently 57.58%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of Kellanova by 134.7% during the third 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 in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Kellanova by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,227 shares of the company’s stock worth $1,229,000 after buying an additional 308 shares in the last quarter. Czech National Bank grew its stake in shares of Kellanova by 6.7% during the 4th quarter. Czech National Bank now owns 58,296 shares of the company’s stock worth $4,720,000 after acquiring an additional 3,645 shares in the last quarter. Finally, Wedmont Private Capital bought a new position in shares of Kellanova during the 4th quarter worth approximately $384,000. 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.