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 Kellanova stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the completion of the transaction, the insider now owns 48,305,778 shares in the company, valued at $3,956,726,275.98. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Trading Down 0.1 %

Kellanova stock opened at $81.76 on Thursday. The stock has a 50-day moving average price of $81.09 and a 200 day moving average price of $77.93. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.06. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. Sell-side analysts anticipate that Kellanova will post 3.75 EPS for the current year.

Analyst Upgrades and Downgrades

K has been the topic of a number of analyst reports. Argus downgraded shares of Kellanova from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. StockNews.com assumed coverage on shares of Kellanova in a report on Thursday, January 23rd. They issued a “hold” rating on the stock. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average price target of $76.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in K. State Street Corp grew its position in 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 period. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 196,564 shares during the period. Barclays PLC grew its position in shares of Kellanova by 134.7% during 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. increased its stake 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 valued at $131,606,000 after purchasing an additional 35,268 shares in the last quarter. Finally, Ilex Capital Partners UK LLP raised its holdings in 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 purchasing an additional 632,510 shares during the period. 83.87% of the stock is currently 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.