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 on Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the completion of the transaction, the insider now directly owns 48,764,110 shares in the company, valued at $3,942,578,293.50. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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

K stock opened at $80.82 on Tuesday. The firm has a 50-day simple moving average of $80.80 and a two-hundred day simple moving average of $74.37. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a one year low of $52.46 and a one year high of $81.34. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.59 and a beta of 0.38.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, equities analysts forecast that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio is currently 78.35%.

Institutional Investors Weigh In On Kellanova

Several institutional investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. lifted its stake in shares of Kellanova by 766.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. acquired a new stake in Kellanova during the 2nd quarter worth about $88,065,000. Westchester Capital Management LLC purchased a new stake in Kellanova during the 3rd quarter valued at about $107,795,000. Point72 Asset Management L.P. acquired a new position in shares of Kellanova in the second quarter valued at about $63,585,000. Finally, Barclays PLC raised its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on K. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a report on Friday, November 1st. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on shares of Kellanova in a research note on Monday. They set a “hold” rating for the company. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.35.

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.