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 company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $81.91, for a total value of $9,385,493.53. Following the completion of the transaction, the insider now 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Trading Down 0.2 %

Shares of K opened at $81.82 on Wednesday. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.06. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average price is $81.06 and its 200-day moving average price is $77.75. The firm has a market capitalization of $28.20 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.50 and a beta of 0.37.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Kellanova

A number of hedge funds have recently modified their holdings of K. CVA Family Office LLC lifted its position in Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. MCF Advisors LLC lifted its holdings in shares of Kellanova by 48.8% during the third 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. Newbridge Financial Services Group Inc. boosted its position in shares of Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of 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 buying an additional 158 shares during the last quarter. Finally, Mather Group LLC. increased its position in Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares in the last quarter. Institutional investors own 83.87% 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.