Kellanova (NYSE:K) Major Shareholder Sells $4,115,620.00 in Stock

Kellanova (NYSE:KGet Free Report) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $52.90, for a total value of $4,115,620.00. Following the completion of the sale, the insider now directly owns 52,309,038 shares in the company, valued at approximately $2,767,148,110.20. The sale was disclosed in a document filed with the SEC, which is accessible through 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 Stock Performance

Shares of Kellanova stock opened at $53.56 on Friday. Kellanova has a one year low of $47.63 and a one year high of $72.30. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.02 and a beta of 0.40. The business has a 50-day simple moving average of $54.80 and a 200 day simple moving average of $54.55. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41.

Kellanova (NYSE:KGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. On average, research analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 4.18%. Kellanova’s dividend payout ratio (DPR) is currently 81.45%.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently added to or reduced their stakes in the stock. CGC Financial Services LLC purchased a new position in shares of Kellanova in the 2nd quarter worth approximately $27,000. Oakworth Capital Inc. boosted its stake in shares of Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Norwood Financial Corp lifted its stake in Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after purchasing an additional 225 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares during the last quarter. Finally, Motco lifted its stake in Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Piper Sandler raised their price objective on Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Barclays raised their target price on Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Stifel Nicolaus raised their target price on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their target price on Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Kellanova has an average rating of “Hold” and an average price target of $62.27.

Read Our Latest Research Report on Kellanova

About Kellanova

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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.

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Insider Buying and Selling by Quarter for Kellanova (NYSE:K)

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