Fannie Mae, Freddie Mac shares tumble after conservatorship comments
In a recent transaction, the W.K. Kellogg Foundation Trust sold 114,583 shares of Kellanova (NYSE:K) at an average price of $82.31 per share, totaling approximately $9.43 million. The stock currently trades near its 52-week high of $83.22, having delivered an impressive 51% return over the past year. With a market capitalization of $28.4 billion, Kellanova maintains a strong presence in the consumer staples sector. This sale was conducted under a pre-arranged trading plan intended to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934. Following this transaction, the Trust holds 47,503,697 shares of Kellanova. The W.K. Kellogg Foundation is the sole beneficiary of the Trust, and the transaction was executed with the involvement of several trustees, including LaJune Montgomery Tabron and Steve Cahillane. According to InvestingPro data, Kellanova has maintained dividend payments for 55 consecutive years, with a current dividend yield of 2.77%. The company maintains a "GOOD" overall financial health score, reflecting its stable market position.
In other recent news, Kellanova has reported several key developments that may interest investors. The company has successfully secured consents to amend the terms of its outstanding notes, a pivotal step toward finalizing its merger with Mars, Incorporated. This merger will result in Kellanova becoming a wholly-owned subsidiary of Mars, with Mars expected to guarantee the payment of notes upon completion. In addition to this, Kellanova’s Board of Directors has approved the grant of restricted stock units (RSUs) to top executives, aligning their interests with shareholder value.
Furthermore, DA Davidson has maintained a Neutral rating on Kellanova with an unchanged price target of $83.50, despite Kellanova’s strong fourth-quarter earnings performance in fiscal year 2024. The company’s earnings per share exceeded expectations, largely due to reduced administrative expenses following the Mars acquisition announcement. Organic net sales growth was noted, particularly in the AMEA region, though North America and Europe showed weaker market responsiveness.
These developments reflect Kellanova’s strategic moves and financial performance, which continue to shape its competitive stance in the industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.