Fruth Investment Management Sells 315 Shares of Kellanova (NYSE:K)

Fruth Investment Management reduced its stake in shares of Kellanova (NYSE:K) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,670 shares of the company’s stock after selling 315 shares during the period. Fruth Investment Management’s holdings in Kellanova were worth $216,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on K shares. StockNews.com began coverage on Kellanova in a research note on Friday, January 31st. They issued a “hold” rating for the company. 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. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.96.

Kellanova Stock Performance

NYSE:K opened at $81.86 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $81.16 and its 200 day simple moving average is $78.78. The stock has a market cap of $28.22 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. Kellanova has a twelve month low of $52.46 and a twelve month high of $82.06.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the completion of the transaction, the insider now owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In 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 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.