Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $79.54, for a total value of $9,113,931.82. Following the sale, the insider directly owned 45,784,952 shares in the company, valued at $3,641,735,082.08. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of K opened at $79.50 on Wednesday. Kellanova has a 12 month low of $56.10 and a 12 month high of $83.22. The stock has a fifty day moving average price of $80.86 and a 200-day moving average price of $81.69. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. The firm has a market cap of $27.58 billion, a PE ratio of 20.07, a P/E/G ratio of 4.23 and a beta of 0.28.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. Kellanova’s dividend payout ratio is presently 57.58%.

Hedge Funds Weigh In On Kellanova

Hedge funds have recently made changes to their positions in the company. Grove Bank & Trust acquired a new position in shares of Kellanova in the 1st quarter valued at $25,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Kellanova in the 1st quarter valued at $25,000. MorganRosel Wealth Management LLC acquired a new position in shares of Kellanova in the 1st quarter valued at $27,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $32,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Kellanova in the 4th quarter valued at $36,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on K shares. Wall Street Zen cut Kellanova from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Citigroup upgraded Kellanova to a “neutral” rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.75.

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.