Kellanova (NYSE:K) Major Shareholder Kellogg W. K. Foundation Trust Sells 114,583 Shares

Kellanova (NYSE:K) major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $82.25, for a total transaction of $9,424,451.75. Following the sale, the insider now directly owns 48,076,612 shares in the company, valued at approximately $3,954,301,337. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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

K opened at $82.26 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.81 and a quick ratio of 0.53. The firm has a fifty day moving average price of $81.37 and a 200 day moving average price of $79.86. Kellanova has a 1 year low of $52.46 and a 1 year high of $82.41. The stock has a market cap of $28.35 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 earnings per share (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%. Equities research analysts anticipate that Kellanova will post 3.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Kellanova in a research report on Sunday. They set a “hold” rating on the stock. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.96.

Hedge Funds Weigh In On Kellanova

A number of large investors have recently added to or reduced their stakes in the stock. DoubleLine ETF Adviser LP raised its position in Kellanova by 2.4% during the fourth quarter. DoubleLine ETF Adviser LP now owns 15,374 shares of the company’s stock worth $1,245,000 after acquiring an additional 358 shares during the period. AQR Arbitrage LLC raised its position in Kellanova by 35.0% during the fourth quarter. AQR Arbitrage LLC now owns 366,774 shares of the company’s stock worth $29,676,000 after acquiring an additional 95,057 shares during the period. Nexpoint Asset Management L.P. raised its position in Kellanova by 2.9% during the fourth quarter. Nexpoint Asset Management L.P. now owns 345,330 shares of the company’s stock worth $27,961,000 after acquiring an additional 9,790 shares during the period. Westbourne Investments Inc. acquired a new position in Kellanova during the fourth quarter worth $437,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Kellanova by 839.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 68,128 shares of the company’s stock worth $5,516,000 after acquiring an additional 60,874 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.