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 firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $82.41, for a total transaction of $9,442,785.03. Following the completion of the transaction, the insider now directly owns 47,159,948 shares in the company, valued at approximately $3,886,451,314.68. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

NYSE:K traded up $0.08 during trading hours on Friday, reaching $82.37. 1,933,260 shares of the company's stock were exchanged, compared to its average volume of 2,734,562. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.43 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The business's 50-day simple moving average is $82.35 and its two-hundred day simple moving average is $81.52.

Kellanova (NYSE:K - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. Sell-side analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is currently 58.91%.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in K. Vanguard Group Inc. raised its stake in shares of Kellanova by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after purchasing an additional 281,137 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $556,014,000 after purchasing an additional 158,560 shares during the last quarter. Pentwater Capital Management LP lifted its stake in shares of Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock valued at $465,982,000 after purchasing an additional 450,700 shares during the last quarter. Invesco Ltd. boosted its holdings in Kellanova by 2.7% in the fourth 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. Finally, Northern Trust Corp increased its position in Kellanova by 15.7% during the fourth quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock worth $315,613,000 after buying an additional 530,132 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. 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. StockNews.com began coverage on shares of Kellanova in a report on Sunday, April 13th. They issued a "hold" rating for the company. Fourteen investment 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 company has an average rating of "Hold" and a consensus price target of $77.96.

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.