Greenwood Capital Associates LLC Sells 426 Shares of Kellanova (NYSE:K)

Greenwood Capital Associates LLC reduced its stake in Kellanova (NYSE:K) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,622 shares of the company’s stock after selling 426 shares during the period. Greenwood Capital Associates LLC’s holdings in Kellanova were worth $1,427,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Westchester Capital Management LLC acquired a new stake in Kellanova in the 3rd quarter valued at $107,795,000. Barclays PLC lifted its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. 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 buying an additional 731,273 shares during the last quarter. Ilex Capital Partners UK LLP raised its holdings in shares of Kellanova by 63.8% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares during the last quarter. Finally, Syquant Capital Sas bought a new position in Kellanova in the 4th quarter valued at about $29,595,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares in the company, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 1,031,247 shares of company stock worth $83,724,652. 1.80% of the stock is currently owned by insiders.

Kellanova Stock Performance

Kellanova stock opened at $81.68 on Tuesday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.06. The firm’s fifty day moving average price is $81.14 and its 200-day moving average price is $78.46. The stock has a market cap of $28.15 billion, a P/E ratio of 28.10, 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 quick ratio of 0.53 and a current ratio of 0.77.

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.