Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $82.03, for a total value of $9,399,243.49. Following the completion of the transaction, the insider now owns 47,274,531 shares of the company’s stock, valued at approximately $3,877,929,777.93. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of K stock traded down $0.48 during midday trading on Monday, hitting $81.76. 9,700,476 shares of the company were exchanged, compared to its average volume of 2,706,668. Kellanova has a 52 week low of $55.01 and a 52 week high of $83.22. The firm has a market capitalization of $28.22 billion, a P/E ratio of 21.13, a PEG ratio of 4.21 and a beta of 0.34. The firm’s 50 day moving average price is $82.31 and its two-hundred day moving average price is $81.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81.

Kellanova (NYSE:K) last issued its quarterly earnings data 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, equities research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Monday, March 3rd. Kellanova’s dividend payout ratio is 58.91%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Kellanova in a research note on Saturday. They issued a “hold” rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $77.96.

Institutional Investors Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently modified their holdings of K. Norges Bank acquired a new position in shares of Kellanova in the fourth quarter valued at about $285,126,000. Franklin Resources Inc. boosted its holdings in 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 purchasing an additional 2,313,047 shares during the period. FIL Ltd grew 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 worth $193,356,000 after purchasing an additional 1,542,000 shares in the last quarter. Barclays PLC increased its holdings in shares of Kellanova by 134.7% during 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 period. Finally, Tudor Investment Corp ET AL raised its position in shares of Kellanova by 136.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company’s stock valued at $141,356,000 after buying an additional 1,006,100 shares in 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.