Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $82.26, for a total transaction of $9,425,597.58. Following the completion of the transaction, the insider now directly owns 47,045,365 shares of the company's stock, valued at $3,869,951,724.90. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.1 %

Shares of NYSE:K traded down $0.08 during midday trading on Thursday, hitting $82.78. The stock had a trading volume of 1,590,455 shares, compared to its average volume of 2,740,718. The company has a market cap of $28.58 billion, a P/E ratio of 21.39, a PEG ratio of 4.21 and a beta of 0.34. Kellanova has a 12 month low of $55.96 and a 12 month high of $83.22. The business's 50-day simple moving average is $82.38 and its 200-day simple moving average is $81.55. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, sell-side analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a yield of 2.75%. Kellanova's dividend payout ratio is 58.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in K. Barclays PLC grew its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Bard Financial Services Inc. acquired a new position in Kellanova in the 3rd quarter valued at $272,000. Virtu Financial LLC bought a new position in Kellanova during the 3rd quarter worth $374,000. Sanctuary Advisors LLC lifted its holdings in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after buying an additional 145 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Kellanova in the third quarter valued at about $210,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on K shares. Royal Bank of Canada lowered shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com initiated coverage on shares of Kellanova in a research report on Monday. They issued a "buy" 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 data from MarketBeat.com, Kellanova presently has a consensus rating of "Hold" and a consensus target price 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.