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 stock in a transaction on Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the completion of the sale, the insider now directly owns 47,389,114 shares in the company, valued at $3,906,758,558.16. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

NYSE K opened at $82.43 on Friday. The firm has a market capitalization of $28.45 billion, a PE ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The company’s 50 day simple moving average is $82.24 and its 200 day simple moving average is $81.32.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analysts Forecast Growth

K has been the topic of a number of analyst reports. Royal Bank of Canada cut shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a research note on Friday. They issued a “hold” rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and a consensus price target of $77.96.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Kellanova in the 4th quarter worth $285,126,000. Franklin Resources Inc. raised its holdings in Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company’s stock worth $208,826,000 after buying an additional 2,313,047 shares during the period. FIL Ltd lifted its stake in Kellanova by 182.3% during the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company’s stock valued at $193,356,000 after buying an additional 1,542,000 shares in the last quarter. Westchester Capital Management LLC purchased a new stake in Kellanova during the third quarter valued at about $107,795,000. Finally, Barclays PLC boosted its holdings in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the period. 83.87% of the stock is currently owned by institutional investors.

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.