Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $82.55, for a total transaction of $9,458,826.65. Following the sale, the insider now directly owns 47,732,863 shares of the company's stock, valued at approximately $3,940,347,840.65. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Kellanova Trading Down 0.1 %

Shares of K stock traded down $0.07 on Tuesday, hitting $82.39. 948,818 shares of the company's stock traded hands, compared to its average volume of 2,402,096. The company's fifty day simple moving average is $81.95 and its 200 day simple moving average is $81.15. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a one year low of $52.46 and a one year high of $83.22. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 4.21 and a beta of 0.31.

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

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Kellanova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 2.77%. Kellanova's dividend payout ratio is currently 58.91%.

Institutional Investors Weigh In On Kellanova

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Kellanova in the 4th quarter worth about $285,126,000. Franklin Resources Inc. boosted its holdings in shares of Kellanova by 869.5% during the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after acquiring an additional 2,313,047 shares during the last quarter. FIL Ltd grew its stake in shares of Kellanova by 182.3% in the fourth quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after acquiring an additional 1,542,000 shares during the period. Westchester Capital Management LLC bought a new position in Kellanova during the third quarter valued at approximately $107,795,000. Finally, Barclays PLC boosted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Institutional investors own 83.87% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada upgraded Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective on the stock in a research note on Tuesday, February 18th. StockNews.com assumed coverage on Kellanova in a research note on Tuesday, March 4th. They issued a "hold" rating on the stock. Thirteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Kellanova currently has an average rating of "Hold" and an average price target of $77.96.

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.