Kellanova (NYSE:K) Major Shareholder Sells $9,399,243.49 in 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, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares in the company, valued at $3,877,929,777.93. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.6 %

Shares of Kellanova stock traded down $0.48 on Monday, hitting $81.76. The company had a trading volume of 9,700,476 shares, compared to its average volume of 2,706,668. The stock has a 50-day moving average of $82.31 and a 200-day moving average of $81.40. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The firm has a market capitalization of $28.22 billion, a P/E ratio of 21.13, a P/E/G ratio of 4.21 and a beta of 0.34.

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

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.79%. Kellanova’s payout ratio is presently 58.91%.

Institutional Investors Weigh In On Kellanova

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Kellanova during the 4th quarter worth approximately $285,126,000. Franklin Resources Inc. boosted its holdings in 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 purchasing an additional 2,313,047 shares during the last quarter. FIL Ltd boosted its holdings in Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock worth $193,356,000 after purchasing an additional 1,542,000 shares during the last quarter. Barclays PLC grew its position in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in Kellanova by 136.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock valued at $141,356,000 after buying an additional 1,006,100 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on K. StockNews.com began coverage on Kellanova in a report on Saturday. They set a “hold” rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has a consensus rating of “Hold” and a consensus price target of $77.96.

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.