Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells $4,512,400.00 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $58.00, for a total value of $4,512,400.00. Following the completion of the transaction, the insider now directly owns 51,842,238 shares in the company, valued at approximately $3,006,849,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Trading Down 1.5 %

NYSE K opened at $56.98 on Thursday. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $19.47 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 2.23 and a beta of 0.40. The firm’s fifty day simple moving average is $56.06 and its 200-day simple moving average is $54.47.

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

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Monday, June 3rd. Kellanova’s dividend payout ratio is presently 81.45%.

Institutional Investors Weigh In On Kellanova

A number of large investors have recently bought and sold shares of the business. Oakworth Capital Inc. boosted its holdings in Kellanova by 491.3% during the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. 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 valued at $29,000 after acquiring an additional 200 shares during the period. Baker Avenue Asset Management LP boosted its holdings in Kellanova by 205.4% during the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company’s stock valued at $30,000 after acquiring an additional 341 shares during the period. Motco boosted its holdings in Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after acquiring an additional 206 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

K has been the topic of several research reports. StockNews.com cut Kellanova from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Stifel Nicolaus boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Barclays boosted their target price on shares of Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Piper Sandler boosted their target price on shares of Kellanova from $59.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company boosted their target price on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.27.

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.