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 on Monday, February 10th. The stock was sold at an average price of $82.23, for a total transaction of $9,422,160.09. Following the sale, the insider now directly owns 48,191,195 shares of the company’s stock, valued at approximately $3,962,761,964.85. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Kellanova Price Performance

Shares of K stock opened at $82.18 on Thursday. Kellanova has a 12 month low of $52.46 and a 12 month high of $82.34. The company has a market capitalization of $28.33 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.53 and a beta of 0.37. The stock has a 50 day moving average of $81.28 and a two-hundred day moving average of $79.65. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Kellanova will post 3.91 EPS for the current year.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Friday, November 1st. StockNews.com started coverage on Kellanova in a research report on Saturday, February 8th. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $77.96.

Hedge Funds Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently made changes to their positions in K. Sanctuary Advisors LLC acquired a new stake in shares of Kellanova in the 2nd quarter valued at about $482,000. Mather Group LLC. lifted its stake in Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after acquiring an additional 256 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Kellanova in the 3rd quarter valued at about $257,000. CWM LLC lifted its position in shares of Kellanova by 20.8% in the third quarter. CWM LLC now owns 12,426 shares of the company’s stock valued at $1,003,000 after buying an additional 2,140 shares during the last quarter. Finally, Perpetual Ltd bought a new position in Kellanova during the third quarter worth $210,000. 83.87% of the stock is owned by institutional investors.

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.