Insider Selling: Kellanova (NYSE:K) SVP Sells 9,800 Shares of Stock

Kellanova (NYSE:K - Get Free Report) SVP Nicolas Amaya sold 9,800 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the transaction, the senior vice president now directly owns 26,191 shares of the company's stock, valued at approximately $1,572,769.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kellanova Stock Performance

Shares of NYSE K traded up $1.60 during trading hours on Tuesday, reaching $61.64. The stock had a trading volume of 3,853,111 shares, compared to its average volume of 3,256,282. The firm has a market cap of $21.07 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.32 and a beta of 0.39. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $71.53. The firm has a 50-day moving average of $56.42 and a 200-day moving average of $54.80. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm posted $1.10 earnings per share. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts predict that Kellanova will post 3.58 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Kellanova's dividend payout ratio (DPR) is 83.90%.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company's stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Kellanova by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company's stock worth $316,323,000 after acquiring an additional 98,294 shares during the period. Invesco Ltd. raised its position in Kellanova by 29.4% in the third quarter. Invesco Ltd. now owns 4,990,266 shares of the company's stock worth $296,971,000 after acquiring an additional 1,132,485 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its holdings in Kellanova by 15.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company's stock valued at $273,504,000 after acquiring an additional 655,686 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company's stock worth $291,061,000 after purchasing an additional 1,051,922 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup began coverage on Kellanova in a research report on Thursday, February 1st. They issued a "neutral" rating and a $57.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $59.00 to $66.00 and gave the stock a "neutral" rating in a report on Friday. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, February 9th. DA Davidson started coverage on shares of Kellanova in a research report on Friday, March 1st. They set a "buy" rating and a $67.00 price objective for the company. Finally, Piper Sandler increased their target price on Kellanova from $59.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $61.46.

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.