Kellanova (NYSE:K), the $28.46 billion market cap food company, saw a notable stock transaction involving the W.K. Kellogg Foundation Trust, which sold 114,583 shares of the company’s common stock. The sale, conducted on April 14, 2025, was executed at a price of $82.4121 per share, totaling approximately $9.44 million. The transaction comes as Kellanova trades near its 52-week high of $83.22, having delivered an impressive 53% return over the past year, according to InvestingPro data.
The transaction was part of a pre-established trading plan intended to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934. Following this sale, the W.K. Kellogg Foundation Trust retains ownership of 47,159,948 shares. The trust’s trading activities are overseen by trustees, including LaJune Montgomery Tabron, Steve Cahillane, Richard M. Tsoumas, and The Northern Trust (NASDAQ:NTRS) Company, with the W.K. Kellogg Foundation as the sole beneficiary. Notably, Kellanova maintains a strong financial position with a "GOOD" Financial Health Score and has maintained dividend payments for 55 consecutive years.
In other recent news, Kellanova has successfully secured the necessary consents to amend the terms of its outstanding notes, a crucial step toward finalizing its merger with Mars, Incorporated. This development was detailed in a recent SEC filing, indicating that the amendments include guarantees and collateral adjustments to align with Mars’ financial structure. Additionally, Kellanova’s Board of Directors has approved significant restricted stock units (RSUs) for its top executives, aligning their interests with those of shareholders. In terms of financial performance, Kellanova’s fourth-quarter earnings exceeded expectations, with reduced administrative expenses following the Mars acquisition announcement contributing significantly to this outcome. The company’s organic net sales also surpassed forecasts, driven primarily by growth in the AMEA region, although North America and Europe showed slower responses. Meanwhile, DA Davidson has maintained a Neutral rating on Kellanova, with a price target of $83.50, reflecting the Mars acquisition price. The analyst noted that while Kellanova performed strongly in fiscal year 2024, the impact of reduced SG&A expenses played a significant role in the earnings beat. In other developments, PepsiCo (NASDAQ:PEP) has seen a notable increase in brand mentions among teens, with Lay’s becoming the top teen snack brand, according to a Piper Sandler survey.
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