Kellanova (NYSE:K) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in shares of Kellanova (NYSE:K) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,586 shares of the company’s stock after selling 320 shares during the quarter. Hartford Investment Management Co.’s holdings in Kellanova were worth $1,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of K. Investors Research Corp raised its position in Kellanova by 1.0% in the third quarter. Investors Research Corp now owns 12,991 shares of the company’s stock worth $1,049,000 after acquiring an additional 125 shares in the last quarter. Assetmark Inc. raised its position in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC increased its position 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 buying an additional 137 shares in the last quarter. S.A. Mason LLC increased its position in shares of Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after buying an additional 140 shares in the last quarter. Finally, Quent Capital LLC increased its position in shares of Kellanova by 20.2% in the fourth quarter. Quent Capital LLC now owns 833 shares of the company’s stock valued at $67,000 after buying an additional 140 shares in the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on K. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. StockNews.com began coverage on Kellanova in a research report on Saturday, February 8th. They set a “hold” rating for the company. Fourteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kellanova presently has an average rating of “Hold” and a consensus price target of $77.96.

Kellanova Stock Up 0.1 %

Shares of NYSE:K opened at $82.26 on Friday. The stock’s 50-day moving average price is $81.34 and its two-hundred day moving average price is $79.84. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.29. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.41. The firm has a market cap of $28.35 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. On average, research analysts forecast that Kellanova will post 3.91 EPS for the current year.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 49,222,442 shares in the company, valued at approximately $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 1,260,413 shares of company stock valued at $102,571,264 in the last three months. 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.