Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 77,800 Shares of Stock

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $55.35, for a total value of $4,306,230.00. Following the completion of the transaction, the insider now owns 51,997,838 shares of the company's stock, valued at $2,878,080,333.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

K traded down $0.02 on Monday, hitting $55.40. 1,655,499 shares of the company's stock were exchanged, compared to its average volume of 3,195,736. The firm has a market cap of $18.93 billion, a PE ratio of 20.15, a P/E/G ratio of 2.07 and a beta of 0.40. Kellanova has a twelve month low of $47.63 and a twelve month high of $72.30. The stock has a fifty day moving average of $55.43 and a two-hundred day moving average of $54.00. The company has a current ratio of 0.66, a quick ratio of 0.41 and a debt-to-equity ratio of 1.51.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, research analysts anticipate that Kellanova will post 3.57 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, February 29th. Kellanova's dividend payout ratio (DPR) is 81.45%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Stifel Nicolaus boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Wells Fargo & Company boosted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a research note on Friday, February 9th. Piper Sandler boosted their price objective on shares of Kellanova from $59.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $62.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oakworth Capital Inc. boosted its holdings in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company's stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Norwood Financial Corp boosted its holdings in shares of Kellanova by 81.8% in the third quarter. Norwood Financial Corp now owns 500 shares of the company's stock valued at $30,000 after acquiring an additional 225 shares in the last quarter. Quilter Plc bought a new position in shares of Kellanova in the first quarter valued at approximately $498,486,000. Baker Avenue Asset Management LP boosted its holdings in shares of Kellanova by 205.4% in the third quarter. Baker Avenue Asset Management LP now owns 507 shares of the company's stock valued at $30,000 after acquiring an additional 341 shares in the last quarter. Finally, Motco boosted its holdings in shares of Kellanova by 757.6% in the fourth quarter. Motco now owns 566 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 83.87% of the company's stock.

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.