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 firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now owns 48,305,778 shares of the company’s stock, valued at approximately $3,956,726,275.98. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

Shares of K traded down $0.15 during mid-day trading on Tuesday, hitting $81.82. The stock had a trading volume of 1,697,025 shares, compared to its average volume of 2,185,660. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company’s fifty day simple moving average is $81.06 and its two-hundred day simple moving average is $77.75. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.06. The company has a market cap of $28.20 billion, a PE ratio of 28.12, a PEG ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts expect that Kellanova will post 3.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on K. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a report on Thursday, January 23rd. They issued a “hold” rating on the stock. Finally, BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average price target of $76.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in Kellanova by 5.3% in the second quarter. Sei Investments Co. now owns 83,392 shares of the company’s stock worth $4,810,000 after purchasing an additional 4,197 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Kellanova by 8.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,538 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Kellanova by 83.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,647 shares of the company’s stock valued at $499,000 after acquiring an additional 3,941 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Kellanova in the 2nd quarter valued at approximately $962,000. Finally, Creative Planning lifted its holdings in Kellanova by 12.3% in the 2nd quarter. Creative Planning now owns 57,804 shares of the company’s stock worth $3,334,000 after purchasing an additional 6,341 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

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.