Insider Selling: Kellanova (NYSE:K) SVP Sells 9,800 Shares of Stock

Kellanova (NYSE:K) SVP Nicolas Amaya sold 9,800 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Kellanova Stock Performance

K stock traded up $1.60 on Tuesday, reaching $61.64. The company’s stock had a trading volume of 3,601,699 shares, compared to its average volume of 3,256,282. Kellanova has a 52 week low of $47.63 and a 52 week high of $71.53. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.62 and a quick ratio of 0.41. The company has a market capitalization of $21.07 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.39. The firm has a fifty day moving average of $56.30 and a two-hundred day moving average of $54.72.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, analysts predict that Kellanova will post 3.58 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio (DPR) is presently 83.90%.

Wall Street Analysts Forecast Growth

K has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler raised their price objective on Kellanova from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Barclays lifted their price objective on shares of Kellanova from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday. 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. Finally, TD Cowen lifted their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a report on Friday. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.46.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Oakworth Capital Inc. boosted its position in shares of Kellanova by 491.3% during the 3rd quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Bfsg LLC boosted its holdings in Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after buying an additional 200 shares in the last quarter. Baker Avenue Asset Management LP grew its position in 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 buying an additional 341 shares during the last quarter. BNP Paribas bought a new position in shares of Kellanova in the first quarter valued at $30,000. Finally, Motco lifted its position in shares of Kellanova by 757.6% during the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

About Kellanova

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.