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

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 Monday, April 7th. The stock was sold at an average price of $82.03, for a total value of $9,399,243.49. Following the transaction, the insider now owns 47,274,531 shares in the company, valued at $3,877,929,777.93. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Kellanova Stock Up 0.1 %

Shares of NYSE K traded up $0.04 during trading on Friday, reaching $82.18. 3,466,962 shares of the stock were exchanged, compared to its average volume of 2,734,686. Kellanova has a twelve month low of $55.01 and a twelve month high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $28.37 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34. The business's 50-day moving average price is $82.33 and its 200 day moving average price is $81.46.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly 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%. As a group, equities analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

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Kellanova Dividend Announcement

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

Institutional Trading of Kellanova

Several large investors have recently added to or reduced their stakes in K. Public Sector Pension Investment Board lifted its holdings in Kellanova by 26.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,947 shares of the company's stock valued at $884,000 after acquiring an additional 2,300 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of Kellanova in the third quarter worth about $636,000. Janus Henderson Group PLC increased its position in shares of Kellanova by 91.2% in the third quarter. Janus Henderson Group PLC now owns 196,185 shares of the company's stock worth $15,833,000 after acquiring an additional 93,586 shares in the last quarter. State Street Corp raised its holdings in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company's stock valued at $1,188,489,000 after acquiring an additional 731,273 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Kellanova by 65.1% in the 3rd quarter. Wellington Management Group LLP now owns 19,847 shares of the company's stock worth $1,602,000 after purchasing an additional 7,829 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

K has been the subject of several analyst reports. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. StockNews.com started coverage on shares of Kellanova in a report on Saturday, April 5th. They issued a "hold" rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.