Forsta AP Fonden Sells 300 Shares of Kellanova (NYSE:K)

Forsta AP Fonden lowered its holdings in shares of Kellanova (NYSE:K) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 66,600 shares of the company’s stock after selling 300 shares during the period. Forsta AP Fonden’s holdings in Kellanova were worth $5,393,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westchester Capital Management LLC acquired a new stake in Kellanova during the 3rd quarter valued at approximately $107,795,000. Barclays PLC boosted its stake in shares of Kellanova by 134.7% in the 3rd quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. State Street Corp increased its position in shares of Kellanova by 5.2% during the third quarter. State Street Corp now owns 14,725,420 shares of the company’s stock worth $1,188,489,000 after buying an additional 731,273 shares during the period. Ilex Capital Partners UK LLP increased its holdings in Kellanova by 63.8% in the third quarter. Ilex Capital Partners UK LLP now owns 1,624,222 shares of the company’s stock worth $131,091,000 after purchasing an additional 632,510 shares in the last quarter. Finally, Syquant Capital Sas acquired a new position in Kellanova in the fourth quarter valued at approximately $29,595,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the sale, the insider now directly owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 1,031,247 shares of company stock worth $83,724,652. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

K has been the subject of several research analyst reports. StockNews.com assumed coverage on shares of Kellanova in a research note on Friday. They issued a “hold” rating for the company. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Trading Down 0.2 %

K opened at $81.74 on Friday. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.06. The firm has a market capitalization of $28.18 billion, a PE ratio of 28.09, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company’s 50-day moving average is $81.13 and its 200 day moving average is $78.13.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion during 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 company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, research analysts predict that Kellanova will post 3.75 earnings per share for the current fiscal 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.