Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of 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, July 21st. The shares were sold at an average price of $79.92, for a total value of $9,157,473.36. Following the completion of the sale, the insider owned 45,670,369 shares of the company's stock, valued at approximately $3,649,975,890.48. 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 can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.2%

Shares of K traded down $0.16 during midday trading on Monday, hitting $79.77. The company had a trading volume of 2,656,207 shares, compared to its average volume of 3,042,376. The company's 50-day simple moving average is $80.70 and its 200-day simple moving average is $81.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.52 and a current ratio of 0.80. The firm has a market capitalization of $27.67 billion, a P/E ratio of 21.37, a P/E/G ratio of 4.25 and a beta of 0.28. Kellanova has a 1 year low of $56.37 and a 1 year high of $83.22.

Kellanova (NYSE:K - Get Free Report) last issued its 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). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business posted $1.01 EPS. Kellanova's revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts expect 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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.86%. Kellanova's dividend payout ratio (DPR) is 57.58%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Kellanova from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Citigroup upgraded Kellanova to a "neutral" rating and set a $83.50 target price for the company in a report on Thursday, May 29th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kellanova presently has an average rating of "Hold" and a consensus target price of $79.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Grove Bank & Trust purchased a new position in shares of Kellanova in the 1st quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Kellanova in the first quarter valued at approximately $25,000. MorganRosel Wealth Management LLC purchased a new stake in Kellanova during the first quarter worth $27,000. Accredited Wealth Management LLC purchased a new stake in Kellanova during the fourth quarter worth $36,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Kellanova during the fourth quarter worth $42,000. 83.87% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.