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 that occurred on Wednesday, May 7th. The shares were sold at an average price of $82.56, for a total transaction of $9,459,972.48. Following the completion of the transaction, the insider now owns 46,816,199 shares in the company, valued at $3,865,145,389.44. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.0 %

Kellanova stock opened at $82.50 on Friday. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The firm’s 50-day moving average is $82.39 and its 200-day moving average is $81.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. The company has a market cap of $28.48 billion, a P/E ratio of 21.32, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K) last issued its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities analysts expect that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.76%. Kellanova’s dividend payout ratio is presently 57.58%.

Institutional Investors Weigh In On Kellanova

A number of hedge funds have recently added to or reduced their stakes in the stock. Grove Bank & Trust bought a new position in Kellanova in the 1st quarter worth about $25,000. MorganRosel Wealth Management LLC bought a new position in Kellanova in the 1st quarter worth approximately $27,000. Stonebridge Financial Group LLC acquired a new stake in Kellanova in the 4th quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in shares of Kellanova in the fourth quarter worth $28,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Kellanova during the fourth quarter valued at $32,000. 83.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on K. StockNews.com lowered shares of Kellanova from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research report on Friday, March 14th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average price target of $79.41.

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.