Kellanova (NYSE:K) Shares Sold by abrdn plc

abrdn plc reduced its stake in shares of Kellanova (NYSE:K) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,165,721 shares of the company’s stock after selling 46,789 shares during the quarter. abrdn plc’s holdings in Kellanova were worth $94,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in K. Optas LLC purchased a new stake in Kellanova in the fourth quarter valued at approximately $273,000. CENTRAL TRUST Co boosted its holdings in shares of Kellanova by 0.7% in the 4th quarter. CENTRAL TRUST Co now owns 22,480 shares of the company’s stock valued at $1,820,000 after acquiring an additional 162 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Kellanova by 4,639.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 190,732 shares of the company’s stock worth $15,444,000 after acquiring an additional 186,708 shares during the period. Spire Wealth Management raised its holdings in shares of Kellanova by 55.9% during the fourth quarter. Spire Wealth Management now owns 1,377 shares of the company’s stock worth $111,000 after purchasing an additional 494 shares during the last quarter. Finally, Caprock Group LLC lifted its position in Kellanova by 11.6% during the fourth quarter. Caprock Group LLC now owns 3,349 shares of the company’s stock valued at $271,000 after purchasing an additional 348 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Kellanova Stock Down 0.0 %

Kellanova stock opened at $81.74 on Wednesday. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.06. The stock has a market capitalization of $28.18 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.51 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. The business has a 50 day simple moving average of $81.15 and a 200-day simple moving average of $78.62.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total value of $9,305,285.43. Following the transaction, the insider now owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 1,031,247 shares of company stock valued at $83,724,652. 1.80% of the stock is owned by corporate insiders.

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.