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 dated Wednesday, May 28th. The shares were sold at an average price of $82.39, for a total transaction of $9,440,493.37. Following the completion of the transaction, the insider now directly owns 46,472,450 shares in the company, valued at approximately $3,828,865,155.50. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of NYSE K traded up $0.10 during trading hours on Friday, hitting $82.60. 5,559,902 shares of the stock were exchanged, compared to its average volume of 2,775,646. 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 $28.66 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.30. The company's fifty day simple moving average is $82.38 and its two-hundred day simple moving average is $81.85. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22.

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

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. Kellanova's dividend payout ratio is 57.58%.

Institutional Trading of Kellanova

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Kellanova by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock worth $2,697,039,000 after acquiring an additional 259,604 shares in the last quarter. Keybank National Association OH boosted its position in Kellanova by 0.7% in 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 buying an additional 128,439 shares in the last quarter. Pentwater Capital Management LP boosted its position in Kellanova by 39.0% in the first quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock valued at $659,920,000 after buying an additional 2,245,000 shares in the last quarter. Geode Capital Management LLC boosted its position in Kellanova by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after buying an additional 158,560 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after buying an additional 111,396 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analyst Weigh In

K has been the topic of several research 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. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Citigroup upgraded shares of Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a research report on Thursday. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.75.

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.