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 business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $80.70, for a total value of $9,246,848.10. Following the sale, the insider now owns 49,107,859 shares in the company, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of Kellanova stock opened at $80.70 on Wednesday. Kellanova has a one year low of $52.46 and a one year high of $81.34. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.59 and a beta of 0.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business’s 50 day moving average price is $80.82 and its 200 day moving average price is $72.18.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. On average, research analysts predict that Kellanova will post 3.75 EPS for the current year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.83%. Kellanova’s payout ratio is 78.35%.

Hedge Funds Weigh In On Kellanova

A number of institutional investors have recently added to or reduced their stakes in K. Swedbank AB increased its stake in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares during the last quarter. Principal Financial Group Inc. increased its stake in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after acquiring an additional 24,067 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Kellanova during the third quarter worth $4,211,000. Impax Asset Management Group plc acquired a new stake in Kellanova during the third quarter worth $4,991,000. Finally, Lombard Odier Asset Management Europe Ltd increased its stake in Kellanova by 227.9% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,018 shares of the company’s stock worth $2,827,000 after acquiring an additional 34,069 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on K shares. Wells Fargo & Company boosted their price target on Kellanova from $76.00 to $83.50 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. StockNews.com initiated coverage on Kellanova in a research note on Friday, December 6th. They issued a “hold” rating on the stock. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Sandler upped their price target on Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.35.

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.