Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $9,431,326.73 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the transaction, the insider now directly owns 47,503,697 shares in the company, valued at $3,910,029,300.07. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 $82.40 on Monday. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The company has a market capitalization of $28.44 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 4.21 and a beta of 0.31. The company has a 50-day moving average of $82.14 and a 200-day moving average of $81.26. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova’s payout ratio is presently 58.91%.

Institutional Investors Weigh In On Kellanova

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC acquired a new position in Kellanova during the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new position in Kellanova during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.96.

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.