Kellanova (NYSE:K) Major Shareholder Sells $9,458,826.65 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $82.55, for a total value of $9,458,826.65. Following the sale, the insider now owns 47,732,863 shares in the company, valued at $3,940,347,840.65. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.0 %

Shares of NYSE K traded up $0.02 during trading on Friday, hitting $82.45. The stock had a trading volume of 2,950,484 shares, compared to its average volume of 2,427,586. Kellanova has a 12 month low of $52.46 and a 12 month high of $83.22. The company has a market capitalization of $28.46 billion, a PE ratio of 21.31, a PEG ratio of 4.21 and a beta of 0.31. The firm has a fifty day moving average of $81.89 and a two-hundred day moving average of $81.11. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56.

Kellanova (NYSE:K) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova’s payout ratio is 58.91%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Kellanova in the fourth quarter valued at approximately $285,126,000. Franklin Resources Inc. raised its holdings in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock valued at $208,826,000 after acquiring an additional 2,313,047 shares in the last quarter. FIL Ltd boosted its position in shares of Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Westchester Capital Management LLC purchased a new position in shares of Kellanova during the third quarter worth about $107,795,000. Finally, Barclays PLC increased its position in shares of Kellanova by 134.7% in 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 last quarter. Institutional investors own 83.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on K. StockNews.com initiated coverage on Kellanova in a research note on Tuesday. They issued a “hold” rating for the company. Royal Bank of Canada upgraded shares of Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a research report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus price target of $77.96.

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.