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 Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the sale, the insider now owns 51,920,038 shares in the company, valued at approximately $2,998,901,394.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

NYSE:K opened at $58.15 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.41 and a current ratio of 0.66. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The firm has a market cap of $19.87 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40. The business has a 50 day moving average price of $55.76 and a 200-day moving average price of $54.16.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS. Equities research analysts predict that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is 81.45%.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They issued a “buy” rating and a $67.00 price objective for the company. Piper Sandler upped their target price on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. JPMorgan Chase & Co. raised their price target on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com cut shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.27.

Institutional Investors Weigh In On Kellanova

Institutional investors and hedge funds have recently bought and sold shares of the business. Hartford Investment Management Co. boosted its stake in shares of Kellanova by 1.2% during the 3rd quarter. Hartford Investment Management Co. now owns 18,566 shares of the company’s stock valued at $1,105,000 after purchasing an additional 219 shares in the last quarter. Naples Global Advisors LLC boosted its position in Kellanova by 2.7% during the 3rd quarter. Naples Global Advisors LLC now owns 11,496 shares of the company’s stock valued at $684,000 after acquiring an additional 300 shares in the last quarter. Norwood Financial Corp boosted its position in Kellanova by 81.8% during the 3rd quarter. Norwood Financial Corp now owns 500 shares of the company’s stock valued at $30,000 after acquiring an additional 225 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of Kellanova during the 3rd quarter worth approximately $131,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Kellanova by 95.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock worth $70,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other 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.