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

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the transaction, the insider now directly owns 49,337,025 shares in the company, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

NYSE:K traded up $0.17 during trading hours on Thursday, hitting $80.96. 1,359,249 shares of the company’s stock traded hands, compared to its average volume of 3,019,445. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34. The business’s fifty day simple moving average is $80.75 and its two-hundred day simple moving average is $70.43. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $27.91 billion, a P/E ratio of 27.76, a P/E/G ratio of 2.59 and a beta of 0.39.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Kellanova’s revenue was down .7% on a year-over-year basis. On average, research analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. Kellanova’s dividend payout ratio is presently 78.35%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on K. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. Argus cut Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $83.50 in a report on Monday, August 26th. Finally, Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $76.00 to $83.50 in a report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.35.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently modified their holdings of K. D. E. Shaw & Co. Inc. grew its holdings in shares of Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after purchasing an additional 1,664,461 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Kellanova during the second quarter valued at approximately $88,065,000. Westchester Capital Management LLC purchased a new position in shares of Kellanova in the third quarter worth $107,795,000. Point72 Asset Management L.P. bought a new stake in Kellanova in the 2nd quarter worth $63,585,000. Finally, Barclays PLC boosted its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the period. 83.87% of the stock is currently owned by 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.