Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $81.42, for a total value of $9,329,347.86. Following the completion of the sale, the insider now directly owns 48,534,944 shares in the company, valued at $3,951,715,140.48. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large 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 %
NYSE:K traded down $0.11 during mid-day trading on Tuesday, reaching $81.40. The company's stock had a trading volume of 2,302,142 shares, compared to its average volume of 2,048,818. The company's fifty day simple moving average is $80.91 and its two-hundred day simple moving average is $76.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a twelve month low of $52.46 and a twelve month high of $81.58. The stock has a market cap of $28.06 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.59 and a beta of 0.37.
Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. On average, equities analysts predict that Kellanova will post 3.74 EPS for the current year.
Kellanova Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. Kellanova's dividend payout ratio (DPR) is 78.35%.
Wall Street Analyst Weigh In
A number of analysts recently commented on K shares. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective on the stock. in a research note on Friday, November 1st. Argus lowered Kellanova from a "buy" rating to a "hold" rating in a research note on Wednesday, October 2nd. Finally, StockNews.com started coverage on Kellanova in a research note on Tuesday, January 7th. They set a "hold" rating on the stock. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $76.35.
Read Our Latest Stock Analysis on Kellanova
Hedge Funds Weigh In On Kellanova
A number of large investors have recently modified their holdings of K. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after buying an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock valued at $30,000 after buying an additional 200 shares during the period. MCF Advisors LLC raised its holdings in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after buying an additional 137 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock valued at $44,000 after buying an additional 158 shares during the period. Finally, Mather Group LLC. raised its holdings in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company's stock valued at $50,000 after buying an additional 256 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
About Kellanova
(
Get Free Report)
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.
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