Kellanova (NYSE:K) Major Shareholder Sells $9,383,201.87 in Stock

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $81.89, for a total transaction of $9,383,201.87. Following the completion of the transaction, the insider now directly owns 46,357,867 shares of the company's stock, valued at $3,796,245,728.63. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Stock Down 1.7%

Shares of NYSE K traded down $1.36 during trading on Thursday, hitting $80.25. The stock had a trading volume of 11,451,175 shares, compared to its average volume of 2,821,902. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The firm has a fifty day moving average of $82.29 and a two-hundred day moving average of $81.91. The company has a market capitalization of $27.84 billion, a PE ratio of 20.74, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company earned $1.01 EPS. The firm's revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.84%. Kellanova's payout ratio is presently 57.58%.

Institutional Investors Weigh In On Kellanova

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

Analysts Set New Price Targets

K has been the subject of several analyst reports. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.