Bristlecone Advisors LLC Trims Stake in Kellanova (NYSE:K)

Bristlecone Advisors LLC reduced its holdings in shares of Kellanova (NYSE:K - Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,038 shares of the company's stock after selling 3,904 shares during the quarter. Bristlecone Advisors LLC's holdings in Kellanova were worth $4,456,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of K. CVA Family Office LLC lifted its holdings in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after acquiring an additional 307 shares during the period. MCF Advisors LLC raised its stake 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 during the period. Capital Advisors Ltd. LLC raised its stake in shares of Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company's stock valued at $44,000 after buying an additional 158 shares during the period. Mather Group LLC. raised its stake in shares of Kellanova by 71.3% in the third quarter. Mather Group LLC. now owns 615 shares of the company's stock valued at $50,000 after buying an additional 256 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after buying an additional 131 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on K. BNP Paribas lowered Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research note on Friday, November 1st. StockNews.com initiated coverage on Kellanova in a research note on Saturday, February 8th. They issued a "hold" rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Kellanova has a consensus rating of "Hold" and an average price target of $77.96.

Kellanova Price Performance

Kellanova stock traded up $0.04 during midday trading on Thursday, hitting $82.22. 4,123,824 shares of the company's stock were exchanged, compared to its average volume of 2,371,387. Kellanova has a 52-week low of $52.46 and a 52-week high of $82.34. The stock has a 50-day moving average price of $81.31 and a two-hundred day moving average price of $79.83. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market cap of $28.34 billion, a P/E ratio of 21.24, a PEG ratio of 2.53 and a beta of 0.37.

Kellanova (NYSE:K - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping 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, equities research analysts forecast that Kellanova will post 3.91 earnings per share for the current year.

Insider Transactions at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 49,222,442 shares of the company's stock, valued at $3,997,354,514.82. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,145,830 shares of company stock worth $93,146,812. 1.80% of the stock is currently owned by corporate insiders.

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.