In a recent transaction, the W.K. Kellogg Foundation Trust reported selling shares of Kellanova (NYSE:K) valued at approximately $9.36 million. The transaction, which took place on January 21, 2025, involved the sale of 114,583 shares at an average price of $81.6862 per share. The sale comes as Kellanova trades near its 52-week high of $81.79, following a remarkable 43% surge over the past six months. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.
Following this sale, the Trust holds 48,420,361 shares of Kellanova, representing a significant portion of the company’s $28.15 billion market capitalization. The sales were conducted under a pre-arranged trading plan set on May 7, 2024, in compliance with Rule 10b5-1(c) under the Securities and Exchange Act of 1934. The Trust, with LaJune Montgomery Tabron, Steve Cahillane, Richard M. Tsoumas, and The Northern Trust (NASDAQ:NTRS) Company as trustees, continues to have significant holdings in Kellanova, with the W.K. Kellogg Foundation as the sole beneficiary. Notably, Kellanova has maintained dividend payments for 54 consecutive years, demonstrating strong financial stability. Discover more detailed valuation insights and exclusive analysis with a subscription to InvestingPro, which offers comprehensive research reports for over 1,400 US stocks.
In other recent news, Kinross Gold (NYSE:KGC) Corporation announced a third-quarter dividend of $0.03 per share, scheduled for payment to eligible shareholders in December 2024. This move aligns with the company’s commitment to delivering shareholder value and maintaining financial discipline.
Switching focus to Kellanova, the company has been making headlines with its acquisition by Mars, Inc. for $83.50 per share, a transaction valued at $35.9 billion. This merger, expected to close in the first half of 2025, brings together two significant players in the global snacking industry. Kellanova’s strong financial performance, highlighted by net sales exceeding $13 billion in 2023, underscores its robust position in the market.
In response to these developments, analysts have adjusted their outlooks on Kellanova. Argus and DA Davidson downgraded the company’s shares, while BofA Securities upgraded the stock. Piper Sandler and Stifel revised their price targets to align with the acquisition price.
Moreover, Kellanova has declared a quarterly dividend of $0.57 per share, marking the 400th instance of dividend payments to its common stock shareholders. This consistency underscores Kellanova’s long-standing commitment to shareholder returns. These are some of the recent developments in both Kinross Gold Corporation and Kellanova.
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