Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) experienced a notable insider transaction when major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock on January 21st. The shares were sold at an average price of $81.69, amounting to a total value of $9,360,285.27. After this transaction, Kellogg W. K. Foundation Trust now holds 48,420,361 shares in Kellanova, which are valued at approximately $3,955,459,290.09. This sale reflects a 0.24% reduction in their ownership stake. The details of the sale are available in a legal filing with the Securities and Exchange Commission (SEC), which can be found on their website. It is mandatory for major shareholders, those owning 10% or more of a company’s shares, to report their transaction activities to the SEC.

Kellanova Trading Activity

On the trading day following the insider sale, Kellanova's stock experienced a slight decline, decreasing by $0.11 to close at $81.67. The trading volume amounted to 3,777,328 shares, surpassing the average volume of 2,401,661 shares. Currently, Kellanova shows a 50-day moving average price of $80.97, while its 200-day moving average stands at $76.86. Over the past year, the stock has reached a low of $52.46 and a high of $81.82. The company maintains a debt-to-equity ratio of 1.34, a current ratio of 0.77, and a quick ratio of 0.53. Kellanova has a market capitalization of $28.15 billion, a price-to-earnings (P/E) ratio of 28.06, a P/E to growth (P/E/G) ratio of 2.50, and a beta of 0.37.

Kellanova's Earnings Report

In its latest quarterly earnings report on October 31st, Kellanova announced earnings of $0.91 per share, exceeding analysts’ expectations of $0.85 by $0.06. The company reported a net margin of 7.85% and a return on equity of 37.05%. Revenue for the quarter was $3.23 billion, surpassing analyst estimates of $3.16 billion. However, this represents a 0.7% decline in revenue compared to the same period last year. Analysts predict that Kellanova will achieve earnings of $3.75 per share for the current fiscal year.

Kellanova's Dividend Information

The company also recently declared a quarterly dividend that was paid on December 13th. Shareholders who were on record as of December 2nd received a dividend of $0.57 per share, with the ex-dividend date also being December 2nd. This brings Kellanova's annualized dividend to $2.28, yielding 2.79%. Their dividend payout ratio is currently at 78.35%.

Institutional Investors and Kellanova

Several significant investors have recently adjusted their holdings in Kellanova. For instance, CVA Family Office LLC increased its stake in the company by 529.3% during the third quarter. They acquired a total of 365 shares worth $29,000 after purchasing an additional 307 shares. Newbridge Financial Services Group Inc. and MCF Advisors LLC also lifted their positions significantly in Kellanova, confirming the growing interest from institutional investors. Currently, institutional ownership stands at approximately 83.87% of the company's total shares.

Analyst Ratings for Kellanova

Analyst recommendations for Kellanova have been varied. Argus recently downgraded Kellanova from a 'buy' to a 'hold'. Similarly, BNP Paribas also adjusted its rating from 'outperform' to 'neutral', setting a price target of $83.00 for the stock. StockNews.com initiated coverage on the stock with a 'hold' rating as well. Overall, 15 analysts have issued a 'hold' rating while one has given a buy recommendation, leading to an average target price of $76.35 according to MarketBeat data.

About Kellanova

Kellanova produces and markets a variety of snacks and convenience foods across North America, Europe, and other regions. The company’s main products include crackers, chips, frozen waffles, cereals, granola bars, and many others, catering to a broad customer base.

Insider, Selling, Shares