Kellanova (NYSE:K - Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares of the company's stock, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Kellanova Stock Up 0.2 %
K stock opened at $81.30 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The firm's fifty day simple moving average is $80.82 and its 200-day simple moving average is $71.26. Kellanova has a 12 month low of $51.02 and a 12 month high of $81.34. The company has a market capitalization of $28.02 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39.
The latest trend in real estate
From Pacaso | Ad
These vacation homes are often expensive to maintain and vacant 90% of the year. But thanks to co-ownership, they’re being transformed into fully utilized assets. And there’s one company that’s leading the charge – already welcoming over 1,500 happy homeowners into their co-ownership family, earning $100M in gross profits along the way.
Now, for the first time, this innovative company is opening its doors to public investors. Want to learn more about co-ownership and its potential? Check them out – but be aware: their share price is set to change December 5, so you don’t have long to maximize your stake.
Don’t miss your chance to maximize your stake in this co-ownership revolution.
Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm earned $1.03 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current year.
Kellanova Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's dividend payout ratio (DPR) is presently 78.35%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Argus lowered Kellanova from a "buy" rating to a "hold" rating in a research report on Wednesday, October 2nd. Piper Sandler boosted their price target on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. StockNews.com started coverage on Kellanova in a research report on Thursday. They set a "hold" rating on the stock. BNP Paribas lowered shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kellanova from $66.00 to $69.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.35.
Read Our Latest Analysis on K
Institutional Trading of Kellanova
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of 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 buying an additional 170 shares in the last quarter. Family Firm Inc. acquired a new stake in Kellanova in the 2nd quarter valued at $29,000. CVA Family Office LLC grew its stake in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after acquiring an additional 200 shares during the period. Finally, MCF Advisors LLC raised its position in Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 83.87% of the company's stock.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
