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 the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $80.57, for a total value of $9,231,952.31. Following the completion of the sale, the insider now directly owns 50,024,523 shares of the company’s stock, valued at $4,030,475,818.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

NYSE:K opened at $80.57 on Wednesday. The stock has a market cap of $27.54 billion, a P/E ratio of 30.17, a PEG ratio of 2.59 and a beta of 0.39. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46. The business’s 50-day moving average price is $77.48 and its two-hundred day moving average price is $65.11. Kellanova has a twelve month low of $47.63 and a twelve month high of $81.00.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $1.25 earnings per share. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts predict that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 2.83%. Kellanova’s payout ratio is 85.39%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler increased their price target on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Argus lowered Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova has an average rating of “Hold” and an average price target of $74.32.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Kellanova by 1.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock worth $566,000 after buying an additional 180 shares during the last quarter. IFG Advisory LLC boosted its stake in Kellanova by 1.4% in the second quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after buying an additional 189 shares in the last quarter. Eukles Asset Management grew its position in Kellanova by 0.7% during the second quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock valued at $1,521,000 after acquiring an additional 193 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. 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.