In a filing, Kellanova Co revealed its 10% Owner KELLOGG W K FOUNDATION TRUST unloaded Company’s shares for reported $4.46 million on Mar 28 ’24. In the deal valued at $57.34 per share,77,800 shares were sold. As a result of this transaction, KELLOGG W K FOUNDATION TRUST now holds 52,153,438 shares worth roughly $3.0 billion.
Then, KELLOGG W K FOUNDATION TRUST sold 77,800 shares, generating $4,326,489 in total proceeds. Upon selling the shares at $55.61, the 10% Owner now owns 52,231,238 shares.
Before that, KELLOGG W K FOUNDATION TRUST sold 77,800 shares. Kellanova Co shares valued at $4,115,457 were divested by the 10% Owner at a price of $52.90 per share. As a result of the transaction, KELLOGG W K FOUNDATION TRUST now holds 52,309,038 shares, worth roughly $3.01 billion.
DA Davidson initiated its Kellanova Co [K] rating to a Buy in a research note published on March 01, 2024; the price target was $67. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early February with a ‘”a Neutral”‘ rating. Wells Fargo began covering K with “an Equal weight” recommendation on December 12, 2023. Barclays revised its rating on November 09, 2023. It rated K as “an Equal weight” which previously was an “an Underweight”.
Price Performance Review of K
On Monday, Kellanova Co [NYSE:K] saw its stock jump 0.05% to $57.48. Over the last five days, the stock has gained 0.74%. Kellanova Co shares have risen nearly 2.81% since the year began. Nevertheless, the stocks have fallen -9.95% over the past one year. While a 52-week high of $67.84 was reached on 01/03/24, a 52-week low of $47.62 was recorded on 03/14/24. SMA at 50 days reached $55.24, while 200 days put it at $57.25. A total of 3.16 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For K Stock
The 24-hour chart illustrates a support level at 57.17, which if violated will result in even more drops to 56.87. On the upside, there is a resistance level at 57.83. A further resistance level may holdings at 58.19. The Relative Strength Index (RSI) on the 14-day chart is 61.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.12%. Stochastics %K at 89.04% indicates the stock is a selling.
How much short interest is there in Kellanova Co?
A steep rise in short interest was recorded in Kellanova Co stocks on Mar 15, 2024, growing by 2.2 million shares to a total of 13.96 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 11.76 million shares. There was a rise of 15.76%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.96% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.54.
