Short Interest in Kellanova (NYSE:K) Expands By 27.6%

Kellanova (NYSE:K - Get Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 7,620,000 shares, an increase of 27.6% from the January 15th total of 5,970,000 shares. Approximately 2.6% of the company's shares are sold short. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 3.7 days.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $80.64, for a total value of $9,239,973.12. Following the completion of the transaction, the insider now owns 48,878,693 shares of the company's stock, valued at approximately $3,941,577,803.52. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,145,830 shares of company stock valued at $93,291,187 over the last 90 days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kellanova

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Investors Research Corp grew its position in Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company's stock valued at $1,049,000 after buying an additional 125 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Kellanova by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,091 shares of the company's stock worth $1,870,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. boosted its position in shares of Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company's stock worth $51,000 after purchasing an additional 131 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Kellanova by 48.8% during the 3rd quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares in the last quarter. Finally, S.A. Mason LLC boosted its position in shares of Kellanova by 7.6% during the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock worth $160,000 after purchasing an additional 140 shares in the last quarter. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

K has been the subject of several recent research reports. Royal Bank of Canada raised shares of Kellanova from a "sector perform" rating to an "outperform" rating and set a $83.50 price objective for the company in a research note on Tuesday. BNP Paribas lowered shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research note on Friday, November 1st. Finally, StockNews.com initiated coverage on shares of Kellanova in a research note on Sunday. They issued a "hold" rating for the company. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Kellanova presently has an average rating of "Hold" and an average target price of $77.96.

Kellanova Stock Up 0.0 %

K stock traded up $0.03 during midday trading on Thursday, reaching $82.44. 1,615,376 shares of the company were exchanged, compared to its average volume of 2,380,580. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.56 and a current ratio of 0.81. Kellanova has a 1-year low of $52.46 and a 1-year high of $82.49. The stock's 50-day simple moving average is $81.47 and its 200 day simple moving average is $80.63. The company has a market cap of $28.42 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.21 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. On average, equities analysts forecast that Kellanova will post 3.93 earnings per share 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.