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 business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $79.68, for a total transaction of $9,129,973.44. Following the transaction, the insider owned 45,899,535 shares in the company, valued at approximately $3,657,274,948.80. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.1%

Kellanova stock traded up $0.07 during midday trading on Thursday, hitting $79.29. 460,717 shares of the stock were exchanged, compared to its average volume of 2,998,574. The firm has a market cap of $27.51 billion, a P/E ratio of 20.02, a P/E/G ratio of 4.21 and a beta of 0.28. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.52. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22. The company has a 50 day moving average price of $81.11 and a two-hundred day moving average price of $81.73.

Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm posted $1.01 earnings per share. The company's quarterly revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts predict that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. Kellanova's payout ratio is 57.58%.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Kellanova by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 32,695,348 shares of the company's stock worth $2,697,039,000 after purchasing an additional 259,604 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Kellanova by 0.7% in the 1st quarter. Keybank National Association OH now owns 19,718,498 shares of the company's stock worth $1,626,579,000 after purchasing an additional 128,439 shares in the last quarter. Pentwater Capital Management LP raised its holdings in shares of Kellanova by 39.0% in the 1st quarter. Pentwater Capital Management LP now owns 8,000,000 shares of the company's stock worth $659,920,000 after purchasing an additional 2,245,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kellanova by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock worth $556,014,000 after purchasing an additional 158,560 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Kellanova by 2.7% in the 4th quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock worth $337,489,000 after purchasing an additional 111,396 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.