Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $4,493,728.00 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the completion of the sale, the insider now directly owns 51,920,038 shares in the company, valued at $2,998,901,394.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Up 1.0 %

Shares of NYSE:K opened at $58.75 on Thursday. The stock has a market cap of $20.08 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.22 and a beta of 0.40. The firm has a fifty day moving average price of $55.85 and a 200 day moving average price of $54.19. 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 has a 1-year low of $47.63 and a 1-year high of $72.30.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share 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%. Kellanova’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. Sell-side analysts predict that Kellanova will post 3.57 EPS for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is presently 81.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on K shares. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective on the stock. Piper Sandler increased their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company upped their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Finally, Citigroup assumed coverage on shares of Kellanova in a report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 target price for the company. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $62.27.

Institutional Trading of Kellanova

Hedge funds have recently made changes to their positions in the company. Oakworth Capital Inc. lifted 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 acquiring an additional 393 shares during the period. Bfsg LLC lifted its stake in shares of Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after acquiring an additional 200 shares during the period. Norwood Financial Corp increased its holdings in shares of 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 purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in shares of Kellanova by 205.4% in the 3rd 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 in the last quarter. Finally, Motco increased its holdings in shares of Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds 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.