Verity Asset Management Inc. Lowers Holdings in Kellanova (NYSE:K)

Verity Asset Management Inc. cut its holdings in shares of Kellanova (NYSE:K) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,591 shares of the company’s stock after selling 359 shares during the quarter. Verity Asset Management Inc.’s holdings in Kellanova were worth $453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in K. State Street Corp raised its stake in Kellanova by 5.2% during the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after acquiring an additional 731,273 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Kellanova by 3.0% during the third quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after acquiring an additional 196,564 shares during the last quarter. Barclays PLC increased 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 acquiring an additional 1,033,383 shares during the period. Charles Schwab Investment Management Inc. raised its position in Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock valued at $131,606,000 after purchasing an additional 35,268 shares during the last quarter. Finally, Ilex Capital Partners UK LLP boosted its stake in Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on K. StockNews.com initiated coverage on shares of Kellanova in a research note on Friday. They issued a “hold” rating on the stock. BNP Paribas downgraded shares of 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. Fourteen investment 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 company currently has an average rating of “Hold” and a consensus target price of $77.96.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the sale, the insider now owns 49,337,025 shares of the company’s stock, valued at $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,031,247 shares of company stock worth $83,724,652 in the last quarter. 1.80% of the stock is owned by insiders.

Kellanova Stock Performance

NYSE K opened at $81.76 on Tuesday. The business’s 50-day moving average price is $81.14 and its 200 day moving average price is $78.46. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.06. The company 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.

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.