Insider Selling: Majority Kellanova (NYSE:K) Shareholder Sells 77,800 Shares

VaselineAugust 22, 2024

0 3 minutes read

Kellanova (NYSE:K – Get Your Free Report ) major shareholder Kellogg WK Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $80.32, for a total transaction of $6,248,896.00. Following the sale, the insider now directly owns 50,675,238 shares in the company, valued at $4,070,235,116.16. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Large shareholders who own at least 10% of a company’s stock are required to disclose their transactions to the SEC.

Kellanova stock down 0.4%

Shares of NYSE:K opened at $80.60 on Thursday. The stock has a 50-day simple moving average of $62.69 and a 200-day simple moving average of $59.27. The stock has a market cap of $27.56 billion, a P/E ratio of 30.19, a PEG ratio of 2.22 and a beta of 0.34. Kellanova has a 1 year low of $47.63 and a 1 year high of $80.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.41, and a current ratio of 0.73.

Kellanova (NYSE:K – Get Free Report ) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the company posted earnings of $1.25 per share. Kellanova’s revenue was down 4.7% compared to the same quarter last year. equities analysts predict that Kellanova will post 3.68 earnings per share for the current year.

Kellanova increases dividend

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.57 dividend. This is an increase from Kellanova’s previous quarterly dividend of $0.56. This represents an annualized dividend of $2.28 and a yield of 2.83%. The ex-dividend date is Tuesday, September 3rd. Kellanova’s dividend payout ratio is currently 85.39%.

Analyst upgrades and downgrades

A number of analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Kellanova to a “hold” rating in a research report on Friday, August 2nd. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd . Royal Bank of Canada downgraded Kellanova from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $76.00 to $83.50 in a research report on Thursday , August 15. Wells Fargo & Company boosted their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price for the company in a report on Monday, August 5th. Thirteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.57.

Read the latest stock report on K

Institutional inputs and outputs

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Bfsg LLC boosted its holdings in Kellanova by 64.5% in the first quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. Family Firm Inc. purchased a new stake in Kellanova in the second quarter valued at $29,000. BNP Paribas purchased a new position in Kellanova in the first quarter worth $30,000. Finally, Motco boosted its position in Kellanova by 757.6% in the 4th quarter. Motco now owns 566 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. 83.87% of the shares are held by hedge funds and other institutional investors.

Kellanova Company Profile

(Get a free report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and food products in North America, Europe, Latin America, Asia Pacific, the Middle East, Australia and Africa. Its main products include crackers, chips, salty snacks, fried pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, plant foods and noodles.