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 firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $82.41, for a total value of $9,442,785.03. Following the completion of the transaction, the insider now directly owns 47,159,948 shares of the company's stock, valued at $3,886,451,314.68. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of NYSE:K traded up $0.08 on Friday, reaching $82.37. 1,933,260 shares of the company traded hands, compared to its average volume of 2,734,816. The company's 50 day moving average is $82.35 and its 200-day moving average is $81.51. The stock has a market capitalization of $28.43 billion, a PE ratio of 21.28, a P/E/G ratio of 4.21 and a beta of 0.34. 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 fifty-two week low of $55.96 and a fifty-two week high of $83.22.

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, beating 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, analysts anticipate that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors 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 dividend yield of 2.77%. Kellanova's payout ratio is 58.91%.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently bought and sold shares of K. Vanguard Group Inc. lifted its position in Kellanova by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 32,435,744 shares of the company's stock worth $2,626,322,000 after purchasing an additional 281,137 shares during the period. Geode Capital Management LLC boosted its holdings in Kellanova by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,884,092 shares of the company's stock valued at $556,014,000 after purchasing an additional 158,560 shares in the last quarter. Pentwater Capital Management LP grew its stake in shares of Kellanova by 8.5% in the 4th quarter. Pentwater Capital Management LP now owns 5,755,000 shares of the company's stock valued at $465,982,000 after purchasing an additional 450,700 shares during the period. Invesco Ltd. grew its position in Kellanova by 2.7% in the fourth quarter. Invesco Ltd. now owns 4,168,070 shares of the company's stock valued at $337,489,000 after acquiring an additional 111,396 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Kellanova by 15.7% during the fourth quarter. Northern Trust Corp now owns 3,897,899 shares of the company's stock valued at $315,613,000 after purchasing an additional 530,132 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on K. StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a report on Friday, March 14th. Fourteen 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, Kellanova currently has an average rating of "Hold" and an average 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.