Kellanova (NYSE:K) Major Shareholder Sells $9,476,014.10 in 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 dated Friday, February 28th. The shares were sold at an average price of $82.70, for a total transaction of $9,476,014.10. Following the sale, the insider now directly owns 47,847,446 shares of the company's stock, valued at $3,956,983,784.20. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

K traded down $0.33 on Monday, hitting $82.57. 2,363,871 shares of the company's stock traded hands, compared to its average volume of 2,404,627. The company's 50 day simple moving average is $81.77 and its 200-day simple moving average is $81.06. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. Kellanova has a one year low of $52.46 and a one year high of $82.94. The firm has a market cap of $28.50 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (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, research analysts anticipate that Kellanova will post 3.93 EPS for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, March 3rd. Kellanova's dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

K has been the topic of several analyst reports. Royal Bank of Canada upgraded shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price target on the stock in a research note on Tuesday, February 18th. StockNews.com assumed coverage on Kellanova in a research report on Monday, February 24th. They set a "hold" rating on the stock. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kellanova currently has an average rating of "Hold" and an average target price of $77.96.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Investors Research Corp raised its stake in Kellanova by 1.0% during the third quarter. Investors Research Corp now owns 12,991 shares of the company's stock valued at $1,049,000 after purchasing an additional 125 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Kellanova by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after buying an additional 130 shares during the last quarter. Assetmark Inc. raised its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after buying an additional 131 shares in the last quarter. S.A. Mason LLC lifted its holdings in shares of Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock valued at $160,000 after acquiring an additional 140 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Kellanova by 20.2% in the 4th quarter. Quent Capital LLC now owns 833 shares of the company's stock valued at $67,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

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.