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 dated Friday, March 21st. The shares were sold at an average price of $82.31, for a total transaction of $9,431,326.73. Following the completion of the sale, the insider now owns 47,503,697 shares of the company's stock, valued at approximately $3,910,029,300.07. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Kellanova Stock Performance

Shares of Kellanova stock traded down $0.12 during trading hours on Tuesday, reaching $82.38. The company had a trading volume of 1,734,446 shares, compared to its average volume of 2,548,225. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.56. Kellanova has a one year low of $55.01 and a one year high of $83.22. The firm has a market cap of $28.44 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a fifty day simple moving average of $82.16 and a 200 day simple moving average of $81.27.

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

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Kellanova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.77%. The ex-dividend date was Monday, March 3rd. Kellanova's dividend payout ratio is 58.91%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. StockNews.com began coverage on shares of Kellanova in a research note on Thursday, March 20th. They set a "hold" rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $77.96.

Hedge Funds Weigh In On Kellanova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new position in shares of Kellanova during the fourth quarter worth approximately $27,000. BankPlus Trust Department purchased a new position in shares of Kellanova in the fourth quarter worth $28,000. Rialto Wealth Management LLC bought a new stake in Kellanova during the 4th quarter valued at $32,000. Flagship Wealth Advisors LLC purchased a new stake in Kellanova during the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. grew its holdings in Kellanova by 64.8% in the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after acquiring an additional 173 shares during the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

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.