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 company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $79.92, for a total transaction of $9,157,473.36. Following the completion of the transaction, the insider owned 45,670,369 shares in the company, valued at approximately $3,649,975,890.48. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Kellanova stock opened at $79.89 on Thursday. The firm’s fifty day moving average price is $80.57 and its 200-day moving average price is $81.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The stock has a market cap of $27.72 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 4.26 and a beta of 0.28. Kellanova has a fifty-two week low of $56.37 and a fifty-two week high of $83.22.

Kellanova (NYSE:K) last posted 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). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The business’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova’s payout ratio is currently 57.58%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on K. Wall Street Zen lowered shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Citigroup raised 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. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $79.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in K. Grove Bank & Trust purchased a new stake in Kellanova during the first quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC bought a new position in Kellanova during the first quarter valued at $25,000. MorganRosel Wealth Management LLC bought a new stake in shares of Kellanova in the 1st quarter worth about $27,000. Accredited Wealth Management LLC bought a new stake in shares of Kellanova in the 4th quarter worth about $36,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Kellanova in the 4th quarter worth about $42,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Company Profile

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.