Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the sale, the insider now directly owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

NYSE K opened at $55.52 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30. The stock has a market cap of $18.97 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.07 and a beta of 0.40. The company’s 50 day moving average is $55.46 and its two-hundred day moving average is $53.97.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. As a group, research analysts anticipate that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 4.03%. Kellanova’s dividend payout ratio is presently 81.45%.

Analyst Upgrades and Downgrades

K has been the topic of several research reports. Barclays raised their target price on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Piper Sandler raised their price target on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. 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, Citigroup initiated coverage on Kellanova in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.27.

Hedge Funds Weigh In On Kellanova

Large investors have recently made changes to their positions in the business. Oakworth Capital Inc. boosted its position in shares of Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Norwood Financial Corp increased its holdings in Kellanova by 81.8% in the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after acquiring an additional 225 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Kellanova by 205.4% in the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Motco boosted its holdings in shares of Kellanova by 757.6% during the 4th 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. Finally, Cowa LLC bought a new position in shares of Kellanova during the 1st quarter valued at about $33,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.