Kellogg W. K. Foundation Trust Sells 114,583 Shares of Kellanova (NYSE:K) Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the completion of the sale, the insider now owns 48,076,612 shares of the company’s stock, valued at $3,954,301,337. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Kellanova Trading Up 0.1 %

Shares of K opened at $82.26 on Friday. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.53. The firm has a market capitalization of $28.35 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.53 and a beta of 0.37. The company has a 50-day moving average of $81.37 and a 200 day moving average of $79.86.

Kellanova (NYSE:K) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, research analysts expect that Kellanova will post 3.91 EPS for the current year.

Institutional Investors Weigh In On Kellanova

Several large investors have recently modified their holdings of the business. DoubleLine ETF Adviser LP grew its position in shares of Kellanova by 2.4% in the 4th quarter. DoubleLine ETF Adviser LP now owns 15,374 shares of the company’s stock worth $1,245,000 after buying an additional 358 shares during the last quarter. AQR Arbitrage LLC grew its position in shares of Kellanova by 35.0% in the 4th quarter. AQR Arbitrage LLC now owns 366,774 shares of the company’s stock worth $29,676,000 after buying an additional 95,057 shares during the last quarter. Nexpoint Asset Management L.P. grew its position in shares of Kellanova by 2.9% in the 4th quarter. Nexpoint Asset Management L.P. now owns 345,330 shares of the company’s stock worth $27,961,000 after buying an additional 9,790 shares during the last quarter. Westbourne Investments Inc. purchased a new position in shares of Kellanova in the 4th quarter worth approximately $437,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Kellanova by 839.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 68,128 shares of the company’s stock worth $5,516,000 after buying an additional 60,874 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.