Trust Point Inc. Sells 604 Shares of Kellanova (NYSE:K)

Trust Point Inc. reduced its holdings in Kellanova (NYSE:K) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,652 shares of the company’s stock after selling 604 shares during the quarter. Trust Point Inc.’s holdings in Kellanova were worth $620,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Swedbank AB increased its holdings in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Kellanova during the fourth quarter worth about $384,000. Finally, Barclays PLC raised its position in 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 buying an additional 1,033,383 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Trading Down 0.0 %

Kellanova stock opened at $81.74 on Wednesday. The stock has a 50-day simple moving average of $81.15 and a 200 day simple moving average of $78.62. The stock has a market capitalization of $28.18 billion, a P/E ratio of 28.09, a PEG ratio of 2.51 and a beta of 0.37. 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 has a 52 week low of $52.46 and a 52 week high of $82.06.

Analyst Ratings Changes

Several equities analysts have recently weighed in on K shares. BNP Paribas cut 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. StockNews.com began coverage on shares of Kellanova in a research report on Friday, January 31st. They issued a “hold” rating for the company. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.96.

Insider Activity

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were 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 in the company, valued at $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 is available at this hyperlink. Insiders sold a total of 1,031,247 shares of company stock valued at $83,724,652 over the last three months. Insiders own 1.80% of the company’s stock.

Kellanova Company 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.