Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, April 7th. The shares were sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares in the company, valued at approximately $3,877,929,777.93. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.1 %

K opened at $81.73 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a one year low of $55.01 and a one year high of $83.22. The business’s fifty day moving average is $82.30 and its two-hundred day moving average is $81.42.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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%. Analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of K. Stonebridge Financial Group LLC purchased a new position in Kellanova during the fourth quarter worth $27,000. BankPlus Trust Department acquired a new stake in shares of Kellanova during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in Kellanova during the 4th quarter worth about $32,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova in the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its holdings in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after purchasing an additional 173 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on K shares. StockNews.com assumed coverage on shares of Kellanova in a report on Saturday. They issued a “hold” rating on the stock. Royal Bank of Canada lowered Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and an average price target of $77.96.

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.