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 Kellanova stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $79.54, for a total transaction of $9,113,931.82. Following the completion of the sale, the insider owned 45,784,952 shares of the company's stock, valued at $3,641,735,082.08. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Kellanova stock traded up $0.02 during mid-day trading on Thursday, hitting $79.77. 345,764 shares of the company's stock traded hands, compared to its average volume of 3,024,753. The firm has a 50 day simple moving average of $80.81 and a two-hundred day simple moving average of $81.68. Kellanova has a fifty-two week low of $56.37 and a fifty-two week high of $83.22. The stock has a market cap of $27.67 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 4.22 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 (NYSE:K - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Kellanova had a return on equity of 34.80% and a net margin of 10.93%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted $1.01 EPS. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.86%. Kellanova's payout ratio is currently 57.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Grove Bank & Trust bought a new stake in shares of Kellanova during the first quarter worth about $25,000. Financial Network Wealth Advisors LLC bought a new stake in Kellanova in the first quarter valued at approximately $25,000. MorganRosel Wealth Management LLC bought a new stake in Kellanova in the first quarter valued at approximately $27,000. Flagship Wealth Advisors LLC acquired a new position in Kellanova in the fourth quarter valued at approximately $32,000. Finally, Accredited Wealth Management LLC acquired a new position in Kellanova in the fourth quarter valued at approximately $36,000. Institutional investors own 83.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on K shares. Wall Street Zen lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Citigroup raised Kellanova to a "neutral" rating and set a $83.50 target price for the company in a research note on Thursday, May 29th. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus 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.