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 company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $80.70, for a total transaction of $9,246,848.10. Following the completion of the transaction, the insider now owns 49,107,859 shares of the company’s stock, valued at approximately $3,963,004,221.30. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of NYSE K traded down $0.15 during trading on Monday, hitting $80.59. 1,409,569 shares of the company were exchanged, compared to its average volume of 2,959,590. The firm’s fifty day moving average price is $80.82 and its 200 day moving average price is $72.18. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.34.

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

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group started coverage on Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective on the stock. Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays lifted their target price on shares of Kellanova from $67.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Piper Sandler increased their price target on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a report on Thursday, August 15th. Fifteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $76.35.

Institutional Investors Weigh In On Kellanova

Institutional investors and hedge funds have recently made changes to their positions in the business. Swedbank AB increased its position in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after buying an additional 46,450 shares in the last quarter. Principal Financial Group Inc. raised its stake in Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after purchasing an additional 24,067 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Kellanova in the 3rd quarter valued at about $4,211,000. Impax Asset Management Group plc purchased a new stake in shares of Kellanova during the third quarter worth about $4,991,000. Finally, Lombard Odier Asset Management Europe Ltd raised its position in shares of Kellanova by 227.9% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,018 shares of the company’s stock valued at $2,827,000 after buying an additional 34,069 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.