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 firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the completion of the transaction, the insider now directly owns 48,305,778 shares of the company’s stock, valued at $3,956,726,275.98. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.2 %

NYSE:K traded down $0.15 during trading hours on Tuesday, reaching $81.82. The company’s stock had a trading volume of 1,697,025 shares, compared to its average volume of 2,185,660. The business’s 50-day moving average is $81.06 and its 200-day moving average is $77.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a one year low of $52.46 and a one year high of $82.06. The company has a market cap of $28.20 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Kellanova’s revenue was down .7% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of K. Sei Investments Co. raised its holdings in shares of Kellanova by 5.3% in the 2nd quarter. Sei Investments Co. now owns 83,392 shares of the company’s stock valued at $4,810,000 after purchasing an additional 4,197 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Kellanova by 8.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock valued at $1,168,000 after acquiring an additional 1,538 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Kellanova by 83.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,647 shares of the company’s stock worth $499,000 after acquiring an additional 3,941 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Kellanova in the second quarter valued at about $962,000. Finally, Creative Planning lifted its stake in shares of Kellanova by 12.3% in the 2nd quarter. Creative Planning now owns 57,804 shares of the company’s stock valued at $3,334,000 after purchasing an additional 6,341 shares during the period. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Kellanova in a research report on Thursday, January 23rd. They issued a “hold” rating for the company. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $76.35.

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.