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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now owns 49,222,442 shares in the company, valued at $3,997,354,514.82. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.2 %

NYSE:K traded up $0.15 during mid-day trading on Friday, hitting $81.30. 1,053,882 shares of the company’s stock were exchanged, compared to its average volume of 2,993,079. Kellanova has a one year low of $51.02 and a one year high of $81.34. The business has a fifty day moving average price of $80.81 and a 200 day moving average price of $71.19. The company has a market cap of $28.02 billion, a PE ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts predict that Kellanova will post 3.74 EPS for the current year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. Kellanova’s payout ratio is presently 78.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on K. Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays raised their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Kellanova by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 356,803 shares of the company’s stock valued at $20,443,000 after acquiring an additional 4,263 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Kellanova by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,630 shares of the company’s stock valued at $573,000 after buying an additional 303 shares during the last quarter. Tidal Investments LLC increased its holdings in Kellanova by 36.7% in the 1st quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock worth $2,145,000 after buying an additional 10,051 shares in the last quarter. Swedbank AB purchased a new position in Kellanova in the 1st quarter worth about $13,069,000. Finally, Atria Investments Inc bought a new position in Kellanova during the 1st quarter valued at about $1,003,000. Institutional investors own 83.87% of the company’s stock.

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.