Kellanova (NYSE:K) Major Shareholder Sells $9,422,160.09 in Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $82.23, for a total value of $9,422,160.09. Following the sale, the insider now directly owns 48,191,195 shares in the company, valued at $3,962,761,964.85. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Stock Performance

Shares of K opened at $82.18 on Thursday. Kellanova has a 52 week low of $52.46 and a 52 week high of $82.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market capitalization of $28.33 billion, a PE ratio of 21.24, a PEG ratio of 2.53 and a beta of 0.37. The company’s 50 day moving average price is $81.28 and its 200 day moving average price is $79.65.

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%. Research analysts expect that Kellanova will post 3.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on K shares. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. StockNews.com initiated coverage on shares of Kellanova in a report on Saturday, February 8th. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Kellanova during the 2nd quarter worth $482,000. Mather Group LLC. boosted its holdings in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in Kellanova during the third quarter worth $257,000. CWM LLC raised its holdings in Kellanova by 20.8% during the third quarter. CWM LLC now owns 12,426 shares of the company’s stock valued at $1,003,000 after buying an additional 2,140 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of Kellanova in the third quarter worth about $210,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Company 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.