Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $55.35, for a total transaction of $4,306,230.00. Following the completion of the transaction, the insider now directly owns 51,997,838 shares in the company, valued at approximately $2,878,080,333.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Shares of K opened at $55.40 on Tuesday. The stock has a market capitalization of $18.93 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.07 and a beta of 0.40. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The company has a 50 day moving average of $55.43 and a 200-day moving average of $54.00. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The company 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%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. As a group, equities research analysts forecast that Kellanova will post 3.57 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 annualized dividend and a dividend yield of 4.04%. Kellanova’s dividend payout ratio is currently 81.45%.

Hedge Funds Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new position in shares of Kellanova in the first quarter valued at $166,000. Rockland Trust Co. boosted its position in Kellanova by 2.1% during the first quarter. Rockland Trust Co. now owns 12,639 shares of the company’s stock worth $724,000 after purchasing an additional 264 shares during the period. Banque Cantonale Vaudoise boosted its position in Kellanova by 35.5% during the first quarter. Banque Cantonale Vaudoise now owns 79,701 shares of the company’s stock worth $4,566,000 after purchasing an additional 20,866 shares during the period. Czech National Bank boosted its position in Kellanova by 0.5% during the first quarter. Czech National Bank now owns 46,405 shares of the company’s stock worth $2,659,000 after purchasing an additional 213 shares during the period. Finally, Thomasville National Bank boosted its position in Kellanova by 6.5% during the first quarter. Thomasville National Bank now owns 52,464 shares of the company’s stock worth $3,006,000 after purchasing an additional 3,212 shares during the period. 83.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

K has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Stifel Nicolaus increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Wells Fargo & Company increased their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, Citigroup began coverage on shares of Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average target price of $62.27.

Kellanova Company Profile

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.