Insider Selling: Kellanova (NYSE:K) SVP Sells 9,800 Shares of Stock

Kellanova (NYSE:K) SVP Nicolas Amaya sold 9,800 shares of Kellanova stock in a transaction on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Kellanova Stock Up 1.1 %

K stock opened at $62.33 on Thursday. The stock has a 50-day simple moving average of $56.42 and a two-hundred day simple moving average of $54.80. Kellanova has a twelve month low of $47.63 and a twelve month high of $71.53. The firm has a market capitalization of $21.31 billion, a PE ratio of 23.34, a PEG ratio of 2.32 and a beta of 0.39. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. Kellanova’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 3.59%. Kellanova’s dividend payout ratio is presently 83.90%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on K. Stifel Nicolaus lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Citigroup began coverage on Kellanova in a report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price objective for the company. DA Davidson began coverage on Kellanova in a report on Friday, March 1st. They issued a “buy” rating and a $67.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Kellanova from $59.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Barclays raised their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average target price of $61.46.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Kellanova by 7.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 311,719 shares of the company’s stock worth $17,858,000 after acquiring an additional 20,995 shares in the last quarter. TD Asset Management Inc raised its position in Kellanova by 8.3% in the 1st quarter. TD Asset Management Inc now owns 1,350,790 shares of the company’s stock worth $77,387,000 after purchasing an additional 103,517 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Kellanova by 16.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 593,241 shares of the company’s stock worth $33,987,000 after purchasing an additional 85,748 shares during the last quarter. Sei Investments Co. boosted its position in Kellanova by 2.6% during the first quarter. Sei Investments Co. now owns 79,195 shares of the company’s stock valued at $4,537,000 after buying an additional 1,984 shares during the period. Finally, Significant Wealth Partners LLC grew its stake in shares of Kellanova by 170.0% during the first quarter. Significant Wealth Partners LLC now owns 16,821 shares of the company’s stock valued at $964,000 after buying an additional 10,592 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.