Perigon Wealth Management LLC Buys Shares of 2,678 Kellanova (NYSE:K)

Perigon Wealth Management LLC purchased a new position in Kellanova (NYSE:K) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,678 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC raised its holdings in shares of Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after acquiring an additional 307 shares during the period. MCF Advisors LLC grew its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Kellanova by 41.4% in the third quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock worth $44,000 after acquiring an additional 158 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock worth $50,000 after buying an additional 256 shares during the period. Finally, Assetmark Inc. boosted its holdings 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 buying an additional 131 shares during the period. 83.87% of the stock is owned by institutional investors and hedge funds.

Kellanova Price Performance

NYSE K opened at $81.76 on Tuesday. The company has a market capitalization of $28.18 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $82.06. The firm’s 50 day moving average is $81.14 and its 200-day moving average is $78.46. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BNP Paribas downgraded shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. StockNews.com began coverage on shares of Kellanova in a research report on Friday. They issued 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, the stock presently has an average rating of “Hold” and a consensus target price of $77.96.

Insiders Place Their Bets

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $81.21, for a total value of $9,305,285.43. Following the completion of the sale, the insider now owns 49,222,442 shares of the company’s stock, valued at approximately $3,997,354,514.82. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,031,247 shares of company stock valued at $83,724,652 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.