By otakuyassine3@gmail.com 
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 dated Monday, December 30th. The shares were sold at an average price of $80.85, for a total value of $9,264,035.55. Following the transaction, the insider now directly owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Kellanova Trading Down 0.4 %
K stock traded down $0.35 on Monday, reaching $80.82. The company’s stock had a trading volume of 1,331,281 shares, compared to its average volume of 2,906,415. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. The business has a fifty day simple moving average of $80.80 and a two-hundred day simple moving average of $74.37. The firm has a market cap of $27.86 billion, a PE ratio of 27.77, a PEG ratio of 2.59 and a beta of 0.38. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.34.
Kellanova (NYSE:K – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts forecast that Kellanova will post 3.74 EPS for the current year.
Kellanova Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. 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 2.82%. Kellanova’s dividend payout ratio (DPR) is 78.35%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in K. Swedbank AB boosted its stake in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after acquiring an additional 46,450 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock valued at $14,435,000 after purchasing an additional 8,686 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Kellanova by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after purchasing an additional 24,067 shares in the last quarter. Barclays PLC grew its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Kellanova during the 3rd quarter valued at approximately $4,211,000. Institutional investors own 83.87% of the company’s stock.
Analyst Ratings Changes
Several research analysts have commented on K shares. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com began coverage on shares of Kellanova in a research report on Monday. They issued a “hold” rating on the stock. Finally, BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average target price of $76.35.
Read Our Latest Report on Kellanova
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.
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