Kellanova sees $9.31 million stock sale by Kellogg Foundation Trust By Investing.com
In a recent transaction, WK Kellogg (NYSE:) Foundation Trust sold 114,583 shares of Kellanova (NYSE:K) common stock, worth approximately $9.31 million. Shares traded at an average price of $81.28 each, near the stock’s 52-week high of $81.39. InvestingPro’s analysis shows that the stock is currently trading above its Fair Value, following an impressive 46% gain over the past six months. After this sale, the Trust, which is a significant shareholder, has 48,649,527 shares in the company with a market capitalization of 28 billion. These sales were made under a pre-arranged trading plan, pursuant to Rule 10b5-1(c) of the Securities and Exchange Act of 1934. Notably, InvestingPro data shows that Kellanova has maintained dividend payments for 54 consecutive years, indicating strong shareholder commitment. For in-depth information on Kellanova’s valuation and 9 exclusive ProTips, visit InvestingPro.
In other recent news, Kinross Gold (NYSE:) Corporation paid a Q3 dividend of $0.03 per share, payable to shareholders of record on November 28, 2024. This announcement underscores Kinross Gold’s continued commitment to delivering shareholder value. Similarly, Kellanova, after being acquired by Mars, Inc. at $83.50 per share in a deal valued at $35.9 billion, declared a quarterly dividend of $0.57 per share. This marks the 400th time that Kellanova has paid dividends to common shareholders, highlighting the company’s commitment to giving back to shareholders.
These changes prompted various analyst firms to adjust their outlook on both companies. For Kellanova, Argus and DA Davidson downgraded the shares from Buy to Hold and Neutral respectively, while BofA Securities upgraded the stock from Neutral to Buy. On the other hand, no analyst changes were mentioned for Kinross Gold.
After this latest development, Kinross Gold and Kellanova continue to demonstrate sound financial discipline and commitment to shareholder value. It is worth noting that these updates reflect the latest activities of the companies and should be considered by investors accordingly.
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