Insider Selling: Kellanova (NYSE:K) Major Shareholder Sells 114,583 Shares of Stock

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total transaction of $9,385,493.53. Following the transaction, the insider now directly owns 48,305,778 shares in the company, valued at approximately $3,956,726,275.98. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Kellanova Price Performance

Shares of K stock opened at $81.76 on Thursday. The firm’s 50-day moving average is $81.09 and its two-hundred day moving average is $77.93. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a market capitalization of $28.18 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37.

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

Hedge Funds Weigh In On Kellanova

Several large investors have recently modified their holdings of the business. Westchester Capital Management LLC acquired a new stake in Kellanova in the 3rd quarter valued at approximately $107,795,000. Barclays PLC grew its stake in shares of Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares in the last quarter. State Street Corp raised 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 valued at $1,188,489,000 after buying an additional 731,273 shares during the period. Ilex Capital Partners UK LLP lifted its stake in Kellanova by 63.8% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after acquiring an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas purchased a new position in Kellanova during the 4th quarter valued at about $29,595,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on K. StockNews.com assumed coverage on shares of Kellanova in a research note on Thursday, January 23rd. They issued a “hold” rating on the stock. Argus lowered Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.35.

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.