Kellogg W. K. Foundation Trust Sells 77,800 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $57.64, for a total value of $4,484,392.00. Following the sale, the insider now owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of Kellanova stock opened at $57.68 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.05 and a beta of 0.35. The firm’s 50-day moving average is $59.71 and its two-hundred day moving average is $56.86. Kellanova has a 1 year low of $47.63 and a 1 year high of $68.69.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. As a group, research analysts expect that Kellanova will post 3.62 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, June 3rd. Kellanova’s payout ratio is 83.90%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on K. DA Davidson increased their target price on shares of Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. TD Cowen increased their price objective on shares of Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Barclays increased their price target on Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.83.

Institutional Investors Weigh In On Kellanova

Institutional investors have recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP grew its holdings in Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares during the last quarter. Bfsg LLC boosted its position in shares of Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. BNP Paribas purchased a new position in Kellanova during the 1st quarter worth $30,000. Motco increased its position in Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Kellanova by 55.1% in the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after buying an additional 206 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

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.