Kellanova (NYSE:K) Major Shareholder Sells $9,360,285.27 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the transaction, the insider now owns 48,420,361 shares in the company, valued at $3,955,459,290.09. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Up 0.2 %

NYSE:K opened at $81.78 on Friday. Kellanova has a 1-year low of $52.46 and a 1-year high of $81.82. The company has a 50-day moving average of $80.99 and a 200 day moving average of $77.21. The firm has a market cap of $28.19 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts anticipate that Kellanova will post 3.75 EPS for the current fiscal year.

Institutional Trading of Kellanova

Hedge funds have recently modified their holdings of the company. CVA Family Office LLC lifted its position in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Kellanova by 61.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. MCF Advisors LLC lifted its position in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares during the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on K shares. BNP Paribas cut shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. Argus cut shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on shares of Kellanova in a research note on Thursday. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.35.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.