Kellanova (NYSE:K – Get Free Report) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $81.91, for a total value of $9,385,493.53. Following the sale, the insider now owns 48,305,778 shares in the company, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 Performance
Kellanova stock opened at $81.95 on Friday. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.06. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $28.25 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. The firm’s 50 day simple moving average is $81.11 and its 200 day simple moving average is $78.10.
Kellanova (NYSE:K – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts expect that Kellanova will post 3.75 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Kellanova
Hedge Funds Weigh In On Kellanova
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westchester Capital Management LLC bought a new stake in shares of Kellanova during the 3rd quarter valued at about $107,795,000. Barclays PLC increased its position in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. State Street Corp raised its stake in 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 purchasing an additional 731,273 shares in the last quarter. Ilex Capital Partners UK LLP lifted its position 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 valued at $131,091,000 after purchasing an additional 632,510 shares during the last quarter. Finally, Syquant Capital Sas purchased a new position in Kellanova in the 4th quarter worth approximately $29,595,000. 83.87% of the stock is currently owned by hedge funds and other institutional investors.
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.
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