PFG Investments LLC Sells 551 Shares of Kellanova (NYSE:K)

PFG Investments LLC cut its stake in Kellanova (NYSE:K) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,910 shares of the company’s stock after selling 551 shares during the period. PFG Investments LLC’s holdings in Kellanova were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in K. State Street Corp lifted its position in Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock valued at $1,188,489,000 after purchasing an additional 731,273 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kellanova by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 6,725,532 shares of the company’s stock valued at $541,052,000 after acquiring an additional 196,564 shares during the period. Barclays PLC increased its holdings in Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock worth $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kellanova by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,630,609 shares of the company’s stock worth $131,606,000 after acquiring an additional 35,268 shares during the period. Finally, Ilex Capital Partners UK LLP lifted its holdings in Kellanova by 63.8% during the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock valued at $131,091,000 after purchasing an additional 632,510 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total transaction of $9,280,077.17. Following the completion of the sale, the insider now directly owns 49,337,025 shares in the company, valued at approximately $3,995,805,654.75. This trade 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 ninety days, insiders have sold 1,031,247 shares of company stock worth $83,724,652. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Friday, November 1st. StockNews.com began coverage on Kellanova in a research report on Friday. They issued a “hold” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kellanova has an average rating of “Hold” and an average target price of $76.35.

Kellanova Stock Performance

NYSE:K opened at $81.74 on Friday. The firm has a market capitalization of $28.18 billion, a PE ratio of 28.09, a PEG ratio of 2.51 and a beta of 0.37. The stock’s fifty day moving average is $81.13 and its 200 day moving average is $78.13. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.06. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. 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 firm posted $1.03 earnings per share. On average, sell-side analysts anticipate that Kellanova will post 3.75 earnings per share for the current year.

Kellanova 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.