Wesbanco Bank Inc. Reduces Stock Position in Kellanova (NYSE:K)

Wesbanco Bank Inc. lowered its holdings in shares of Kellanova (NYSE:K) by 6.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,726 shares of the company’s stock after selling 349 shares during the quarter. Wesbanco Bank Inc.’s holdings in Kellanova were worth $383,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of K. State Street Corp lifted its holdings in shares of Kellanova by 5.2% in the 3rd quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kellanova by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock worth $541,052,000 after buying an additional 196,564 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Kellanova by 766.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock worth $108,532,000 after buying an additional 1,664,461 shares during the period. Barclays PLC lifted 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 worth $145,309,000 after buying an additional 1,033,383 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kellanova by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after buying an additional 35,268 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Wall Street Analysts Forecast Growth

K has been the subject of several research reports. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com assumed coverage on Kellanova in a research report on Thursday. They issued a “hold” rating for the company. Finally, BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kellanova presently has an average rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $81.69, for a total transaction of $9,360,285.27. Following the sale, the insider now directly owns 48,420,361 shares of the company’s stock, valued at $3,955,459,290.09. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 valued at $83,592,882 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Kellanova Trading Up 0.1 %

Shares of NYSE:K opened at $81.87 on Friday. Kellanova has a 52-week low of $52.46 and a 52-week high of $81.91. The stock has a market cap of $28.22 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.50 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average price of $81.01 and a 200-day moving average price of $77.25.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. Kellanova’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Equities analysts predict that Kellanova will post 3.75 EPS for the current year.

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.