Kellanova (NYSE:K) Major Shareholder Sells $9,422,160.09 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the completion of the sale, the insider now directly owns 48,191,195 shares in the company, valued at approximately $3,962,761,964.85. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Stock Down 0.0 %

NYSE K opened at $82.27 on Tuesday. The business has a 50 day moving average price of $81.21 and a two-hundred day moving average price of $79.30. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.31. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.36 billion, a PE ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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 predict that Kellanova will post 3.91 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in shares of Kellanova by 5.2% during 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 during the last quarter. Geode Capital Management LLC boosted its position in Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after purchasing an additional 196,564 shares during the period. Barclays PLC grew its stake in Kellanova by 134.7% during the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after buying an additional 1,033,383 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kellanova by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,912 shares of the company’s stock worth $136,103,000 after buying an additional 50,303 shares during the period. Finally, Ilex Capital Partners UK LLP lifted its stake in Kellanova by 63.8% in 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 buying an additional 632,510 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

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.