Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $57.76, for a total transaction of $4,493,728.00. Following the sale, the insider now directly owns 51,920,038 shares in the company, valued at $2,998,901,394.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

K stock opened at $58.75 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. Kellanova has a one year low of $47.63 and a one year high of $72.30. The firm has a market capitalization of $20.08 billion, a PE ratio of 21.36, a P/E/G ratio of 2.22 and a beta of 0.40. The firm has a 50-day moving average of $55.85 and a two-hundred day moving average of $54.19.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Kellanova will post 3.57 earnings per share for the current year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s dividend payout ratio (DPR) is 81.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on K shares. Stifel Nicolaus increased their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Wells Fargo & Company upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They set a “neutral” rating and a $57.00 price target for the company. Piper Sandler upped their price target on shares of Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $62.27.

Institutional Trading of Kellanova

Hedge funds have recently made changes to their positions in the stock. Oakworth Capital Inc. lifted its position in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Bfsg LLC lifted its position 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 in the last quarter. Norwood Financial Corp lifted its position in shares of Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Finally, Motco lifted its position in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. 83.87% of the stock is 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.