Silverlake Wealth Management LLC Lowers Position in Kellanova (NYSE:K)

Silverlake Wealth Management LLC trimmed its position in shares of Kellanova (NYSE:K) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,862 shares of the company’s stock after selling 294 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Kellanova were worth $313,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. CVA Family Office LLC boosted its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock worth $29,000 after buying an additional 307 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% in 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 period. Capital Advisors Ltd. LLC increased its position in Kellanova by 41.4% during the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Mather Group LLC. raised its stake in Kellanova by 71.3% during the third quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after purchasing an additional 256 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Kellanova by 26.2% in the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock valued at $51,000 after buying an additional 131 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

K has been the topic of several analyst reports. StockNews.com assumed coverage on shares of Kellanova in a research report on Friday, January 31st. They set a “hold” rating on the stock. BNP Paribas lowered Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Price Performance

Shares of K opened at $81.86 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a fifty-two week low of $52.46 and a fifty-two week high of $82.06. The company has a market cap of $28.22 billion, a P/E ratio of 28.13, a PEG ratio of 2.51 and a beta of 0.37. The firm’s 50 day moving average price is $81.16 and its 200 day moving average price is $78.78.

Insider Activity

In other Kellanova 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 shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following 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 represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have sold 1,031,247 shares of company stock worth $83,724,652. Corporate insiders own 1.80% of the company’s stock.

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.