Kellanova (NYSE:K) Major Shareholder Sells $9,094,452.71 in Stock

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $79.37, for a total value of $9,094,452.71. Following the transaction, the insider directly owned 46,014,118 shares in the company, valued at approximately $3,652,140,545.66. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

NYSE K traded up $0.33 during trading on Tuesday, hitting $79.86. 4,650,706 shares of the stock traded hands, compared to its average volume of 2,985,882. The company has a market capitalization of $27.71 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 4.16 and a beta of 0.28. The firm has a 50-day simple moving average of $81.52 and a 200-day simple moving average of $81.78. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. Kellanova has a 12-month low of $55.96 and a 12-month high of $83.22.

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 firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. As a group, analysts predict that Kellanova will post 3.93 EPS for the current year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. Kellanova's dividend payout ratio is presently 57.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on K shares. Royal Bank Of Canada downgraded Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price on the stock in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova has a consensus rating of "Hold" and an average target price of $79.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Grove Bank & Trust bought a new stake in shares of Kellanova during the first quarter worth $25,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Kellanova during the first quarter worth $25,000. MorganRosel Wealth Management LLC bought a new stake in shares of Kellanova during the first quarter worth $27,000. Rialto Wealth Management LLC bought a new stake in shares of Kellanova during the fourth quarter worth $32,000. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of Kellanova during the fourth quarter worth $32,000. 83.87% of the stock is owned by hedge funds and other 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.