Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the transaction, the insider now owns 47,389,114 shares of the company’s stock, valued at approximately $3,906,758,558.16. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Kellanova stock traded down $0.03 during mid-day trading on Friday, reaching $82.43. 1,328,230 shares of the stock traded hands, compared to its average volume of 2,673,641. The business’s 50-day moving average is $82.22 and its 200-day moving average is $81.31. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The stock has a market capitalization of $28.45 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

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

Institutional Trading of Kellanova

Several large investors have recently added to or reduced their stakes in K. California State Teachers Retirement System grew its holdings in shares of Kellanova by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 387,671 shares of the company’s stock worth $31,390,000 after acquiring an additional 2,773 shares during the period. CIBRA Capital Ltd bought a new stake in Kellanova in the fourth quarter valued at about $29,989,000. Wealth Enhancement Advisory Services LLC raised its stake in Kellanova by 8.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,184 shares of the company’s stock worth $1,310,000 after acquiring an additional 1,265 shares during the period. Siemens Fonds Invest GmbH lifted its position in Kellanova by 257.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 33,532 shares of the company’s stock valued at $2,715,000 after purchasing an additional 24,153 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new stake in Kellanova in the fourth quarter worth about $73,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on K. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com started coverage on Kellanova in a report on Friday. They set a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus target price 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.