Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) 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, July 7th. The stock was sold at an average price of $79.68, for a total value of $9,129,973.44. Following the transaction, the insider owned 45,899,535 shares of the company's stock, valued at $3,657,274,948.80. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Up 0.5%

Shares of Kellanova stock traded up $0.42 during trading on Thursday, reaching $79.64. 3,316,249 shares of the stock were exchanged, compared to its average volume of 3,014,121. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The stock's fifty day moving average is $81.11 and its 200 day moving average is $81.73. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 4.20 and a beta of 0.28. Kellanova has a 1 year low of $55.96 and a 1 year high of $83.22.

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 analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The company's quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors 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 dividend yield of 2.86%. Kellanova's dividend payout ratio is presently 57.58%.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently made changes to their positions in K. Grove Bank & Trust bought a new position in shares of Kellanova during the 1st quarter worth approximately $25,000. Financial Network Wealth Advisors LLC acquired a new position in Kellanova during the 1st quarter valued at approximately $25,000. MorganRosel Wealth Management LLC acquired a new position in Kellanova during the 1st quarter valued at approximately $27,000. Rialto Wealth Management LLC acquired a new position in Kellanova during the 4th quarter valued at approximately $32,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Kellanova during the 4th quarter valued at approximately $32,000. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on K. Wall Street Zen downgraded Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 price target for the company in a report on Thursday, May 29th. Finally, Royal Bank Of Canada cut 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average 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.