Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $82.47, for a total value of $9,449,660.01. Following the completion of the sale, the insider now directly owns 46,930,782 shares of the company's stock, valued at approximately $3,870,381,591.54. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large 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

NYSE:K traded down $0.04 during trading hours on Thursday, hitting $82.74. The stock had a trading volume of 2,516,072 shares, compared to its average volume of 2,734,204. The firm has a market capitalization of $28.56 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 4.21 and a beta of 0.34. Kellanova has a one year low of $55.96 and a one year high of $83.22. The company has a 50 day simple moving average of $82.40 and a two-hundred day simple moving average of $81.62. 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 (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. During the same period in the previous year, the business earned $1.01 EPS. The business's revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 (DPR) is presently 58.91%.

Institutional Investors Weigh In On Kellanova

A number of large investors have recently added to or reduced their stakes in K. Vanguard Group Inc. increased its position in shares of Kellanova by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock valued at $2,626,322,000 after purchasing an additional 281,137 shares during the last quarter. Keybank National Association OH grew its position in Kellanova by 0.7% during the first quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock valued at $1,626,579,000 after acquiring an additional 128,439 shares during the last quarter. Geode Capital Management LLC grew its position in Kellanova by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after acquiring an additional 158,560 shares during the last quarter. Pentwater Capital Management LP raised its stake in shares of Kellanova by 8.5% during the fourth quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock worth $465,982,000 after acquiring an additional 450,700 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after acquiring an additional 111,396 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on K. StockNews.com began coverage on Kellanova in a research report on Monday, April 21st. They set a "buy" rating for the company. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $77.96.

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.