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The W.K. Kellogg Foundation Trust, a significant shareholder in Kellanova (NYSE:K), recently sold a substantial portion of its holdings in the company. According to a recent SEC filing, the Trust sold 114,583 shares of Kellanova’s common stock on March 14, 2025, at an average price of $82.2554 per share. This transaction amounted to a total value of approximately $9.43 million. The sale comes as Kellanova trades near its 52-week high of $83.22, with the stock delivering an impressive 60% return over the past year. InvestingPro analysis indicates the stock is currently fairly valued, with a market capitalization of $28.39 billion.
Following this sale, the Trust retains ownership of 47,618,280 shares in Kellanova. The sales were conducted under a 10b5-1 trading plan, which was established on May 7, 2024. The plan allows insiders to set up a predetermined schedule for selling stocks, which can help mitigate any potential accusations of insider trading.
The W.K. Kellogg Foundation Trust, with LaJune Montgomery Tabron, Steve Cahillane, Richard M. Tsoumas, and The Northern Trust (NASDAQ:NTRS) Company serving as trustees, continues to be a major stakeholder in Kellanova, with the W.K. Kellogg Foundation as its sole beneficiary.
In other recent news, Kellanova has successfully secured key consents necessary for its merger with Mars, Incorporated. This development is a significant milestone in the merger process, as reported in a recent SEC filing. The merger will see Kellanova become a wholly-owned subsidiary of Mars, with Mars expected to provide a guarantee for the prompt payment of notes upon the merger’s completion. In another update, Kellanova has granted restricted stock units (RSUs) to its top executives as part of its long-term incentive plan. The company’s Board of Directors approved the grant, aiming to align executive interests with those of shareholders.
Meanwhile, DA Davidson maintained a Neutral rating on Kellanova, with an unchanged price target of $83.50. The firm noted Kellanova’s strong performance in fiscal year 2024, with fourth-quarter earnings surpassing expectations due to reduced administrative expenses following the Mars acquisition announcement. The company’s organic net sales exceeded forecasts, driven by growth in the AMEA region. However, market responsiveness in North America and Europe showed signs of weakening. Despite the positive earnings report, DA Davidson remains cautious, suggesting that the financial results may not fully reflect the company’s operational strength.
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