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

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $78.42, for a total transaction of $8,985,598.86. Following the sale, the insider now owns 46,128,701 shares in the company, valued at approximately $3,617,412,732.42. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Kellanova Stock Down 0.1%

NYSE:K traded down $0.09 during mid-day trading on Monday, reaching $78.58. The company's stock had a trading volume of 3,475,847 shares, compared to its average volume of 2,903,317. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The stock has a fifty day moving average of $81.95 and a 200-day moving average of $81.86. The firm has a market capitalization of $27.26 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 4.12 and a beta of 0.30. 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 (NYSE:K - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.90%. Kellanova's dividend payout ratio (DPR) is currently 57.58%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Principal Securities Inc. boosted its holdings in shares of Kellanova by 61.0% in the 4th quarter. Principal Securities Inc. now owns 1,663 shares of the company's stock valued at $135,000 after acquiring an additional 630 shares during the last quarter. D.A. Davidson & CO. raised its stake in Kellanova by 11.7% in the 4th quarter. D.A. Davidson & CO. now owns 22,455 shares of the company's stock valued at $1,818,000 after purchasing an additional 2,347 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Kellanova by 18.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,494 shares of the company's stock valued at $121,000 after purchasing an additional 231 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in Kellanova by 16.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,985 shares of the company's stock valued at $647,000 after purchasing an additional 1,114 shares during the last quarter. Finally, Olympiad Research LP increased its stake in shares of Kellanova by 24.8% in the 4th quarter. Olympiad Research LP now owns 31,017 shares of the company's stock worth $2,511,000 after acquiring an additional 6,157 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on K. Wall Street Zen cut shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Royal Bank Of Canada cut shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, 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. Fourteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kellanova 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.

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.