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 company’s stock in a transaction dated 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 approximately $3,955,459,290.09. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

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

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. Equities research analysts forecast that Kellanova will post 3.75 EPS for the current year.

Hedge Funds Weigh In On Kellanova

Several institutional investors have recently made changes to their positions in the company. CVA Family Office LLC grew its stake in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its stake in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. MCF Advisors LLC grew its stake in Kellanova by 48.8% in the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. Capital Advisors Ltd. LLC grew its stake in Kellanova by 41.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after acquiring an additional 158 shares during the period. Finally, Mather Group LLC. grew its stake in Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after acquiring an additional 256 shares during the period. 83.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on K. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas downgraded shares of 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. Finally, StockNews.com started coverage on shares of Kellanova in a research report on Thursday. They set a “hold” rating for the company. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Kellanova presently has a consensus rating of “Hold” and a consensus target price of $76.35.

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.