Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the transaction, the insider now owns 47,732,863 shares in the company, valued at approximately $3,940,347,840.65. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.0 %

Shares of K traded up $0.02 during midday trading on Friday, hitting $82.45. The stock had a trading volume of 2,950,484 shares, compared to its average volume of 2,427,586. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The company has a 50 day simple moving average of $81.89 and a two-hundred day simple moving average of $81.11. Kellanova has a twelve month low of $52.46 and a twelve month high of $83.22.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on K. StockNews.com began coverage on shares of Kellanova in a research report on Tuesday. They issued a “hold” rating for the company. Royal Bank of Canada upgraded Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target on the stock in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.96.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in Kellanova in the 4th quarter valued at about $285,126,000. Franklin Resources Inc. lifted its holdings in shares of Kellanova by 869.5% during the fourth quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after buying an additional 2,313,047 shares in the last quarter. FIL Ltd boosted its position in shares of Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after acquiring an additional 1,542,000 shares during the period. Westchester Capital Management LLC acquired a new position in shares of Kellanova in the third quarter valued at about $107,795,000. Finally, Barclays PLC increased its position in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares during the period. 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.