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 stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $82.41, for a total transaction of $9,442,785.03. Following the sale, the insider now owns 47,159,948 shares in the company, valued at approximately $3,886,451,314.68. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

NYSE K traded up $0.16 on Monday, reaching $82.45. The stock had a trading volume of 2,014,111 shares, compared to its average volume of 2,731,008. The stock has a market cap of $28.46 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 12-month low of $55.01 and a 12-month high of $83.22. The business’s 50-day moving average price is $82.33 and its 200 day moving average price is $81.47. 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 the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. As a group, equities analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Analysts Set New Price Targets

A number of research firms recently weighed in on K. StockNews.com began coverage on shares of Kellanova in a research note on Sunday. They set a “hold” rating on the stock. Royal Bank of Canada lowered shares of Kellanova from a “moderate buy” rating to a “hold” rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Institutional Investors Weigh In On Kellanova

Large investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the 4th quarter worth approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new position in shares of Kellanova in the fourth quarter worth $32,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock valued at $36,000 after acquiring an additional 173 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

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.