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 firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $82.44, for a total value of $9,446,222.52. Following the transaction, the insider now owns 47,389,114 shares in the company, valued at $3,906,758,558.16. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.1 %

NYSE K traded down $0.05 during trading on Tuesday, hitting $82.45. The company's stock had a trading volume of 2,316,609 shares, compared to its average volume of 2,675,607. Kellanova has a fifty-two week low of $55.01 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. The company has a market cap of $28.46 billion, a PE ratio of 21.30, a P/E/G ratio of 4.21 and a beta of 0.31. The business's 50 day simple moving average is $82.27 and its 200-day simple moving average is $81.37.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share 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%. On average, equities analysts anticipate that Kellanova will post 3.93 EPS for the current fiscal year.

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Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was 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 Trading of Kellanova

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Kellanova during the fourth quarter worth about $285,126,000. Franklin Resources Inc. lifted its stake in 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 period. FIL Ltd boosted its holdings in shares of Kellanova by 182.3% in the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock valued at $193,356,000 after acquiring an additional 1,542,000 shares during the last quarter. Westchester Capital Management LLC acquired a new stake in shares of Kellanova in the third quarter worth $107,795,000. Finally, Barclays PLC increased its stake in shares of 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 acquiring an additional 1,033,383 shares during the period. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. StockNews.com started coverage on shares of Kellanova in a report on Friday. They set a "hold" rating on the stock. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. Fourteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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.