Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $82.23, for a total value of $9,422,160.09. Following the transaction, the insider now directly owns 48,191,195 shares of the company’s stock, valued at $3,962,761,964.85. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of K opened at $82.27 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.53. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.31. The stock has a market cap of $28.36 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.37. The firm has a fifty day moving average price of $81.21 and a 200 day moving average price of $79.30.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, sell-side analysts anticipate that Kellanova will post 3.91 EPS for the current year.

Institutional Investors Weigh In On Kellanova

Several hedge funds have recently made changes to their positions in the business. Westchester Capital Management LLC purchased a new stake in Kellanova in the 3rd quarter valued at approximately $107,795,000. Barclays PLC lifted its holdings in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the period. State Street Corp boosted its stake in shares of Kellanova by 5.2% in the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after buying an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP grew its holdings in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares during the period. Finally, Cibc World Markets Corp raised its position in Kellanova by 538.6% in the fourth quarter. Cibc World Markets Corp now owns 585,691 shares of the company’s stock worth $47,423,000 after acquiring an additional 493,976 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

K has been the subject of a number of analyst reports. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Friday, November 1st. StockNews.com started coverage on shares of Kellanova in a report on Saturday. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.96.

About Kellanova

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.