Shell Asset Management Co. Sells 3,730 Shares of Kellanova (NYSE:K)

Shell Asset Management Co. lowered its stake in shares of Kellanova (NYSE:K) by 11.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,039 shares of the company’s stock after selling 3,730 shares during the period. Shell Asset Management Co.’s holdings in Kellanova were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Bfsg LLC increased its position in shares of Kellanova by 64.5% in the 1st quarter. Bfsg LLC now owns 510 shares of the company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. BNP Paribas bought a new stake in shares of Kellanova in the first quarter worth about $30,000. Motco raised its position in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kellanova by 55.1% during the 4th quarter. Blue Trust Inc. now owns 580 shares of the company’s stock valued at $34,000 after purchasing an additional 206 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Kellanova by 139.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock valued at $41,000 after purchasing an additional 428 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $57.67, for a total transaction of $4,486,726.00. Following the sale, the insider now directly owns 50,986,438 shares in the company, valued at $2,940,387,879.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Nicolas Amaya sold 9,800 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the completion of the sale, the senior vice president now directly owns 26,191 shares in the company, valued at approximately $1,572,769.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $57.67, for a total value of $4,486,726.00. Following the completion of the sale, the insider now directly owns 50,986,438 shares in the company, valued at $2,940,387,879.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,600 shares of company stock valued at $50,897,082. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

K has been the topic of several research reports. DA Davidson upped their target price on shares of Kellanova from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Barclays reduced their price objective on Kellanova from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their target price on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. TD Cowen upped their price target on Kellanova from $57.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kellanova from $62.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.50.

Kellanova Stock Performance

Shares of Kellanova stock traded up $0.05 on Friday, hitting $57.33. The stock had a trading volume of 303,770 shares, compared to its average volume of 2,768,016. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.08 and a beta of 0.34. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.34. Kellanova has a twelve month low of $47.63 and a twelve month high of $67.81. The business’s 50 day moving average is $58.54 and its two-hundred day moving average is $57.08.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a net margin of 6.41% and a return on equity of 37.07%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the company posted $1.10 earnings per share. Kellanova’s revenue was down 4.2% compared to the same quarter last year. Analysts forecast that Kellanova will post 3.61 EPS for the current 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.