Ieq Capital LLC Sells 2,289 Shares of Kellanova (NYSE:K)

Ieq Capital LLC decreased its position in Kellanova (NYSE:KFree Report) by 34.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,377 shares of the company’s stock after selling 2,289 shares during the quarter. Ieq Capital LLC’s holdings in Kellanova were worth $260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CGC Financial Services LLC bought a new position in Kellanova during the 2nd quarter valued at about $27,000. Sandy Spring Bank boosted its holdings in shares of Kellanova by 902.5% in the second quarter. Sandy Spring Bank now owns 401 shares of the company’s stock worth $27,000 after buying an additional 361 shares during the last quarter. RFP Financial Group LLC purchased a new position in shares of Kellanova in the second quarter worth approximately $30,000. Oakworth Capital Inc. boosted its holdings in shares of Kellanova by 491.3% in the third quarter. Oakworth Capital Inc. now owns 473 shares of the company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Finally, Spotlight Asset Group Inc. purchased a new position in shares of Kellanova in the second quarter worth approximately $34,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Trading Down 1.0 %

Shares of K opened at $54.76 on Thursday. The company’s fifty day moving average is $54.53 and its 200 day moving average is $56.73. Kellanova has a fifty-two week low of $47.63 and a fifty-two week high of $72.30. The stock has a market capitalization of $18.76 billion, a PE ratio of 23.01, a P/E/G ratio of 2.18 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.51 and a current ratio of 0.76.

Kellanova (NYSE:KGet Free Report) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.91 by $0.12. The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.04 billion. Kellanova had a net margin of 5.21% and a return on equity of 34.38%. Kellanova’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 earnings per share. Sell-side analysts expect that Kellanova will post 4.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $52.21, for a total transaction of $4,061,938.00. Following the completion of the sale, the insider now owns 53,398,238 shares of the company’s stock, valued at $2,787,922,005.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 700,200 shares of company stock valued at $37,820,136 over the last three months. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

K has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on shares of Kellanova from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. StockNews.com raised shares of Kellanova from a “hold” rating to a “buy” rating in a report on Monday, January 15th. Royal Bank of Canada dropped their price objective on shares of Kellanova from $70.00 to $60.00 and set a “sector perform” rating on the stock in a report on Thursday, October 5th. Morgan Stanley decreased their target price on shares of Kellanova from $68.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Finally, Barclays upgraded shares of Kellanova from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $57.00 to $55.00 in a research note on Thursday, November 9th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.14.

View Our Latest Analysis on Kellanova

Kellanova Company Profile

(Free Report)

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods. The company operates through four segments: North America, Europe, Latin America, Asia, the Middle East, 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.

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Institutional Ownership by Quarter for Kellanova (NYSE:K)

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