Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.34, for a total transaction of $4,461,052.00. Following the completion of the transaction, the insider now owns 52,153,438 shares in the company, valued at $2,990,478,134.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Kellanova Stock Performance
Shares of K stock opened at $57.29 on Friday. The company has a market cap of $19.58 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.12 and a beta of 0.40. Kellanova has a 52 week low of $47.63 and a 52 week high of $72.30. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $54.83 and a 200-day moving average of $54.30.
Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the firm posted $0.94 EPS. The company's quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts forecast that Kellanova will post 3.57 earnings per share for the current year.
Kellanova Announces Dividend
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The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, February 29th. Kellanova's payout ratio is currently 81.45%.
Institutional Trading of Kellanova
Several hedge funds have recently bought and sold shares of K. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Kellanova by 95.3% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 424,951 shares of the company's stock valued at $27,405,000 after acquiring an additional 207,392 shares in the last quarter. HighTower Advisors LLC lifted its stake in Kellanova by 16.7% during the 1st quarter. HighTower Advisors LLC now owns 18,121 shares of the company's stock valued at $1,167,000 after acquiring an additional 2,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Kellanova by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,232 shares of the company's stock valued at $2,208,000 after acquiring an additional 2,119 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Kellanova by 46.9% during the 1st quarter. Raymond James Trust N.A. now owns 8,653 shares of the company's stock valued at $558,000 after acquiring an additional 2,764 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in Kellanova by 6.4% during the 1st quarter. Cibc World Market Inc. now owns 38,670 shares of the company's stock valued at $2,494,000 after acquiring an additional 2,313 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.
Analysts Set New Price Targets
K has been the topic of several research reports. DA Davidson began coverage on shares of Kellanova in a report on Friday, March 1st. They issued a "buy" rating and a $67.00 price objective on the stock. Wells Fargo & Company upped their price target on shares of Kellanova from $56.00 to $58.00 and gave the company an "equal weight" rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of Kellanova from $53.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Barclays increased their price objective on shares of Kellanova from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus increased their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Kellanova currently has a consensus rating of "Hold" and a consensus price target of $62.27.
Read Our Latest Analysis on K
Kellanova Company Profile
(
Get Free Report)
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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