Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $4,306,230.00 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 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the transaction, the insider now directly owns 51,997,838 shares of the company’s stock, valued at approximately $2,878,080,333.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 $56.07 on Thursday. The firm has a market cap of $19.16 billion, a PE ratio of 20.39, a P/E/G ratio of 2.07 and a beta of 0.40. Kellanova has a 12-month low of $47.63 and a 12-month high of $72.30. The company’s fifty day simple moving average is $55.50 and its 200 day simple moving average is $53.99. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. As a group, sell-side analysts forecast that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is 81.45%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Kellanova by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock valued at $1,797,525,000 after buying an additional 1,130,582 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Kellanova by 1.2% in the first quarter. BlackRock Inc. now owns 31,697,821 shares of the company’s stock valued at $2,122,486,000 after buying an additional 369,648 shares in the last quarter. State Street Corp lifted its stake in shares of Kellanova by 2.6% in the first quarter. State Street Corp now owns 14,696,120 shares of the company’s stock valued at $947,753,000 after buying an additional 369,620 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kellanova by 2.9% in the first quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company’s stock valued at $378,150,000 after buying an additional 159,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Kellanova by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company’s stock valued at $316,323,000 after buying an additional 98,294 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on K. Piper Sandler upped their price target 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 increased their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Barclays increased their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Citigroup started coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.27.

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.