Wesbanco Bank Inc. Reduces Stock Holdings in Kellanova (NYSE:K)

Wesbanco Bank Inc. trimmed its position in Kellanova (NYSE:K) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,726 shares of the company’s stock after selling 349 shares during the period. Wesbanco Bank Inc.’s holdings in Kellanova were worth $383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC lifted its position in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after buying an additional 307 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. MCF Advisors LLC lifted 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 valued at $34,000 after buying an additional 137 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Kellanova by 41.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 540 shares of the company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Kellanova by 71.3% during the 3rd quarter. Mather Group LLC. now owns 615 shares of the company’s stock valued at $50,000 after buying an additional 256 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, December 23rd. The stock was 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 in the company, valued at approximately $3,941,577,803.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 1,031,247 shares of company stock worth $83,592,882. 1.80% of the stock is currently owned by company insiders.

Kellanova Stock Performance

NYSE:K opened at $81.87 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. Kellanova has a 1 year low of $52.46 and a 1 year high of $81.91. The stock’s 50 day simple moving average is $81.01 and its two-hundred day simple moving average is $77.25. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.50 and a beta of 0.37.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. As a group, equities analysts anticipate that Kellanova will post 3.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on K. BNP Paribas downgraded 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 began coverage on Kellanova in a research note on Thursday. They set a “hold” rating on the stock. Finally, Argus downgraded Kellanova from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kellanova presently has a consensus rating of “Hold” and an average price target of $76.35.

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.