abrdn plc Sells 46,789 Shares of Kellanova (NYSE:K)

abrdn plc lowered its position in shares of Kellanova (NYSE:K) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165,721 shares of the company’s stock after selling 46,789 shares during the quarter. abrdn plc owned 0.34% of Kellanova worth $94,254,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Kellanova by 2.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,527 shares of the company’s stock valued at $665,000 after purchasing an additional 291 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Kellanova during the second quarter valued at approximately $482,000. Handelsbanken Fonder AB lifted its holdings in shares of Kellanova by 12.3% in the third quarter. Handelsbanken Fonder AB now owns 131,851 shares of the company’s stock worth $10,642,000 after buying an additional 14,488 shares in the last quarter. Czech National Bank boosted its position in shares of Kellanova by 8.9% during the third quarter. Czech National Bank now owns 54,651 shares of the company’s stock worth $4,411,000 after acquiring an additional 4,486 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Kellanova by 6.7% during the third quarter. GAMMA Investing LLC now owns 6,077 shares of the company’s stock valued at $490,000 after acquiring an additional 379 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

Kellanova Stock Down 0.0 %

Kellanova stock opened at $81.74 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $28.18 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.51 and a beta of 0.37. The business has a fifty day moving average of $81.15 and a two-hundred day moving average of $78.62. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com initiated coverage on Kellanova in a report on Friday, January 31st. They issued a “hold” rating on the stock. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the transaction, the insider now directly owns 48,305,778 shares of the company’s stock, valued at approximately $3,956,726,275.98. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 1,031,247 shares of company stock valued at $83,724,652. Corporate insiders own 1.80% of the company’s stock.

Kellanova 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.