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 that occurred on Monday, April 29th. The stock was sold at an average price of $58.00, for a total value of $4,512,400.00. Following the sale, the insider now directly owns 51,842,238 shares of the company's stock, valued at $3,006,849,804. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Kellanova Price Performance
Shares of K stock opened at $58.21 on Tuesday. The company has a market cap of $19.89 billion, a P/E ratio of 21.17, a PEG ratio of 2.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.66 and a quick ratio of 0.41. The stock's 50-day moving average is $56.02 and its 200 day moving average is $54.40. Kellanova has a 1-year low of $47.63 and a 1-year high of $72.30.
Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. Kellanova had a net margin of 6.25% and a return on equity of 35.17%. The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $3.07 billion. During the same period last year, the business earned $0.94 EPS. The company's revenue was up .3% compared to the same quarter last year. Research analysts predict that Kellanova will post 3.57 earnings per share for the current fiscal year.
Kellanova Announces Dividend
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.85%. Kellanova's payout ratio is 81.45%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on K shares. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Stifel Nicolaus upped their target price 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. Piper Sandler lifted their price target on shares of Kellanova from $59.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, February 12th. Barclays increased their price objective on Kellanova from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company upped their target price on Kellanova from $56.00 to $58.00 and gave the stock an "equal weight" rating in a report on Friday, February 9th. 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 data from MarketBeat.com, Kellanova presently has an average rating of "Hold" and an average price target of $62.27.
View Our Latest Stock Report on Kellanova
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Kellanova by 3.6% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kellanova by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,657,709 shares of the company's stock valued at $316,323,000 after buying an additional 98,294 shares during the last quarter. Invesco Ltd. increased its position in shares of Kellanova by 29.4% in the 3rd quarter. Invesco Ltd. now owns 4,990,266 shares of the company's stock valued at $296,971,000 after acquiring an additional 1,132,485 shares during the period. Beutel Goodman & Co Ltd. raised its stake in Kellanova by 15.5% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company's stock worth $273,504,000 after acquiring an additional 655,686 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Kellanova by 27.4% during the 3rd quarter. Van ECK Associates Corp now owns 4,890,952 shares of the company's stock worth $291,061,000 after acquiring an additional 1,051,922 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
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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