Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $57.76, for a total value of $4,493,728.00. Following the sale, the insider now owns 51,920,038 shares in the company, valued at approximately $2,998,901,394.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Shares of NYSE:K opened at $57.98 on Tuesday. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The business’s 50 day simple moving average is $55.68 and its 200-day simple moving average is $54.10. Kellanova has a 12 month low of $47.63 and a 12 month high of $72.30.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a return on equity of 35.17% and a net margin of 6.25%. Kellanova’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. As a group, equities analysts forecast that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova’s payout ratio is currently 81.45%.

Institutional Trading of Kellanova

Several large investors have recently modified their holdings of K. Hartford Investment Management Co. boosted its stake in shares of Kellanova by 1.2% during the third quarter. Hartford Investment Management Co. now owns 18,566 shares of the company’s stock valued at $1,105,000 after acquiring an additional 219 shares during the last quarter. Naples Global Advisors LLC boosted its stake in shares of Kellanova by 2.7% during the 3rd quarter. Naples Global Advisors LLC now owns 11,496 shares of the company’s stock worth $684,000 after purchasing an additional 300 shares during the last quarter. Norwood Financial Corp grew its holdings in shares of Kellanova by 81.8% during the third quarter. Norwood Financial Corp now owns 500 shares of the company’s stock worth $30,000 after buying an additional 225 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Kellanova in the third quarter valued at $131,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Kellanova by 95.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,170 shares of the company’s stock valued at $70,000 after purchasing an additional 570 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on K shares. StockNews.com downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Citigroup assumed coverage on Kellanova in a research report on Thursday, February 1st. They issued a “neutral” rating and a $57.00 price target on the stock. Wells Fargo & Company upped their price objective on Kellanova from $56.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, Barclays lifted their target price on Kellanova from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.