Kellanova sees $9.48 million stock sale by Kellogg Foundation Trust

Kellanova (NYSE:K) recently reported a significant stock sale by the W.K. Kellogg Foundation Trust, as disclosed in a recent SEC filing. On February 28, 2025, the Trust sold 114,583 shares of Kellanova common stock at an average price of $82.6978 per share, totaling approximately $9.48 million. The transaction occurred near Kellanova’s 52-week high of $82.85, with the stock showing remarkable strength, having gained over 52% in the past year. This transaction was conducted under a pre-arranged trading plan compliant with Rule 10b5-1(c) under the Securities and Exchange Act of 1934. Following the sale, the Trust holds 47,847,446 shares of Kellanova, representing a significant stake in the $28.6 billion market cap company. According to InvestingPro analysis, Kellanova appears fairly valued at current levels and maintains an impressive 55-year track record of consecutive dividend payments. For deeper insights into Kellanova’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Kellanova reported its fourth-quarter earnings for fiscal year 2024, surpassing expectations with a notable reduction in administrative expenses following its acquisition announcement by Mars. The company’s earnings per share exceeded projections, driven largely by savings in selling, general, and administrative costs. Kellanova’s organic net sales also outperformed forecasts, particularly in the Asia, Middle East, and Africa region, although North America and Europe showed weaker market responsiveness. DA Davidson maintained a Neutral rating on Kellanova, with a price target of $83.50, indicating that the current valuation aligns with Mars’ acquisition offer.

Additionally, Kellanova’s Board of Directors approved the grant of restricted stock units (RSUs) to top executives as part of a long-term incentive plan, with CEO Mr. Cahillane receiving 118,560 RSUs. This move is aimed at aligning executive interests with shareholder performance. The RSUs are set to vest on the third anniversary of the grant date, contingent on certain conditions. These developments reflect Kellanova’s strategic efforts to enhance executive compensation structures and financial performance amid a competitive industry landscape.

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