Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $57.46, for a total transaction of $4,470,388.00. Following the transaction, the insider now directly owns 52,075,638 shares of the company's stock, valued at approximately $2,992,266,159.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Kellanova Stock Down 0.2 %
Shares of NYSE K opened at $57.01 on Thursday. The company's 50-day simple moving average is $55.39 and its 200-day simple moving average is $54.11. Kellanova has a 52-week low of $47.63 and a 52-week high of $72.30. The firm has a market cap of $19.48 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.15 and a beta of 0.40. The company has a quick ratio of 0.41, a current ratio of 0.66 and a debt-to-equity ratio of 1.51.
Kellanova (NYSE:K - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. Kellanova's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share. Equities analysts predict that Kellanova will post 3.57 EPS for the current fiscal year.
Kellanova Dividend Announcement
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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 dividend of $0.56 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a yield of 3.93%. Kellanova's payout ratio is presently 81.45%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on K shares. JPMorgan Chase & Co. raised their target price on shares of Kellanova from $53.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. StockNews.com cut shares of Kellanova from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Barclays raised their target price on shares of Kellanova from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Monday, February 12th. Wells Fargo & Company raised their target price on shares of Kellanova from $56.00 to $58.00 and gave the stock an "equal weight" rating in a report on Friday, February 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Kellanova from $56.00 to $58.00 and gave the company a "hold" rating in a report on Thursday, January 25th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.27.
Read Our Latest Stock Report on K
Hedge Funds Weigh In On Kellanova
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Kellanova by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company's stock valued at $1,797,525,000 after purchasing an additional 1,130,582 shares during the last quarter. BlackRock Inc. raised its stake in shares of Kellanova by 1.2% in the 1st quarter. BlackRock Inc. now owns 31,697,821 shares of the company's stock valued at $2,122,486,000 after acquiring an additional 369,648 shares during the period. State Street Corp raised its stake in shares of Kellanova by 2.6% in the 1st quarter. State Street Corp now owns 14,696,120 shares of the company's stock valued at $947,753,000 after acquiring an additional 369,620 shares during the period. Geode Capital Management LLC raised its stake in shares of Kellanova by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 5,659,404 shares of the company's stock valued at $378,150,000 after acquiring an additional 159,028 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kellanova by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company's stock valued at $316,323,000 after acquiring an additional 98,294 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.
About Kellanova
(
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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