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 Kellanova stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $60.92, for a total transaction of $4,739,576.00. Following the completion of the transaction, the insider now directly owns 51,764,438 shares in the company, valued at approximately $3,153,489,562.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 1.1 %

Shares of Kellanova stock opened at $62.33 on Thursday. The stock has a 50-day simple moving average of $56.42 and a 200-day simple moving average of $54.80. Kellanova has a 52-week low of $47.63 and a 52-week high of $71.53. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.32 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41.

Kellanova (NYSE:K) last posted its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts expect that Kellanova will post 3.58 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.56 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.24 annualized dividend and a yield of 3.59%. Kellanova’s dividend payout ratio (DPR) is currently 83.90%.

Institutional Trading of Kellanova

Large investors have recently made changes to their positions in the stock. Oakworth Capital Inc. raised its holdings in Kellanova by 491.3% in the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after acquiring an additional 393 shares during the period. Bfsg LLC increased its stake in shares of Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Baker Avenue Asset Management LP lifted its position in shares of Kellanova by 205.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares during the last quarter. BNP Paribas bought a new stake in Kellanova during the 1st quarter valued at approximately $30,000. Finally, Motco increased its position in Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on K shares. JPMorgan Chase & Co. upped their price target on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Wells Fargo & Company increased their price target on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Stifel Nicolaus boosted their price objective on Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Barclays lifted their target price on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, TD Cowen upped their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and an average price target of $61.46.

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.