Kellanova (NYSE:K) Stake Cut by Verity Asset Management Inc.

Verity Asset Management Inc. decreased its holdings in shares of Kellanova (NYSE:K) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 5,591 shares of the company’s stock after selling 359 shares during the quarter. Verity Asset Management Inc.’s holdings in Kellanova were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC lifted its holdings in shares of Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Kellanova by 71.3% in the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after acquiring an additional 256 shares during the period. Finally, Assetmark Inc. lifted its position in Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on K. StockNews.com began coverage on shares of Kellanova in a research note on Friday. They issued a “hold” rating on the stock. BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. 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 has an average rating of “Hold” and an average target price of $77.96.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 48,305,778 shares in the company, valued at approximately $3,956,726,275.98. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,031,247 shares of company stock valued at $83,724,652. Corporate insiders own 1.80% of the company’s stock.

Kellanova Stock Performance

NYSE:K opened at $81.76 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average of $81.14 and a 200-day moving average of $78.46. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.06. The firm has a market cap of $28.18 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.

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.