Kellanova (NYSE:K) Shares Sold by Massachusetts Wealth Management

Massachusetts Wealth Management lowered its position in Kellanova (NYSE:K) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,658 shares of the company’s stock after selling 525 shares during the quarter. Massachusetts Wealth Management’s holdings in Kellanova were worth $1,102,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Kellanova by 57.2% in the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after purchasing an additional 170 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Kellanova by 1.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,810 shares of the company’s stock worth $566,000 after purchasing an additional 180 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Kellanova by 2.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 7,219 shares of the company’s stock worth $583,000 after purchasing an additional 181 shares during the last quarter. IFG Advisory LLC increased its position in shares of Kellanova by 1.4% in the 2nd quarter. IFG Advisory LLC now owns 13,825 shares of the company’s stock worth $797,000 after purchasing an additional 189 shares during the last quarter. Finally, Eukles Asset Management increased its position in shares of Kellanova by 0.7% in the 2nd quarter. Eukles Asset Management now owns 26,378 shares of the company’s stock worth $1,521,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Transactions at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares of the company’s stock, valued at $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares of the company’s stock, valued at $4,062,201,136.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the sale, the insider now directly owns 50,830,838 shares of the company’s stock, valued at approximately $3,761,990,320.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,191,081 shares of company stock valued at $93,637,014. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Kellanova in a research report on Saturday, October 19th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research report on Thursday, August 15th. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Bank of America raised shares of Kellanova from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $70.00 in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group started coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $74.32.

Kellanova Stock Performance

NYSE K traded down $0.15 on Friday, hitting $80.88. The stock had a trading volume of 404,283 shares, compared to its average volume of 3,087,856. The company’s 50-day moving average is $80.58 and its two-hundred day moving average is $67.15. The stock has a market cap of $27.65 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 2.59 and a beta of 0.39. Kellanova has a one year low of $49.79 and a one year high of $81.26. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 EPS. On average, analysts expect that Kellanova will post 3.7 earnings per share for the current year.

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.