Gold prices steady ahead of Fed decision, Trump’s tariff deadline
This transaction was conducted under a pre-established trading plan in compliance with Rule 10b5-1(c) of the Securities and Exchange Act of 1934. Following the sale, the Trust retains ownership of 48,305,778 shares in the $28.2 billion market cap company. InvestingPro subscribers can access 10 additional expert tips and a comprehensive Pro Research Report for deeper insights into Kellanova’s financial health and market position. This transaction was conducted under a pre-established trading plan in compliance with Rule 10b5-1(c) of the Securities and Exchange Act of 1934. Following the sale, the Trust retains ownership of 48,305,778 shares in the $28.2 billion market cap company. InvestingPro subscribers can access 10 additional expert tips and a comprehensive Pro Research Report for deeper insights into Kellanova’s financial health and market position.
In other recent news, Kinross Gold (NYSE:KGC) Corporation announced a third-quarter dividend of $0.03 per share, underscoring its commitment to delivering shareholder value. Payment is scheduled for December 12, 2024, to shareholders who are on record by the close of business on November 28, 2024. It should be noted, however, that non-resident investors may be subject to Canadian non-resident withholding taxes.
In other significant developments, Kellanova has been acquired by Mars, Inc. for $83.50 per share in a transaction valued at $35.9 billion. This merger, expected to close in the first half of 2025, will bring together two major players in the global snacking industry. Kellanova’s robust financial performance, with net sales exceeding $13 billion in 2023, supports the company’s strength.
Analyst firms Argus, DA Davidson, and RBC Capital have downgraded Kellanova’s shares, while BofA Securities upgraded the stock from Neutral to Buy. Piper Sandler and Stifel adjusted their price targets to align with the acquisition price, and Goldman Sachs initiated coverage with a Neutral rating. Lastly, Kellanova declared a quarterly dividend of $0.57 per share, marking the 400th instance of dividend payments to its common stock shareholders since 1925.
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