Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kellanova Co shares valued at $4,470,162 were sold by KELLOGG W K FOUNDATION TRUST on Apr 08 ’24. At $57.46 per share, KELLOGG W K FOUNDATION TRUST sold 77,800 shares. The insider’s holdings dropped to 52,075,638 shares worth approximately $2.93 billion following the completion of this transaction.
Also, KELLOGG W K FOUNDATION TRUST sold 77,800 shares, netting a total of over 4,461,029 in proceeds. Following the sale of shares at $57.34 each, the insider now holds 52,153,438 shares.
Before that, KELLOGG W K FOUNDATION TRUST had sold 77,800 shares from its account. In a trade valued at $4,326,489, the 10% Owner traded Kellanova Co shares for $55.61 each. Upon closing the transaction, the insider’s holdings decreased to 77,800 shares, worth approximately $2.93 billion.
As published in their initiating research note from DA Davidson on March 01, 2024, Kellanova Co [K] has been a Buy and the price target has been revised to $67. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in early February. As of December 12, 2023, Wells Fargo has initiated its “an Equal weight” rating for K. Earlier on November 09, 2023, Barclays upgraded its rating. Their new recommendation was “an Equal weight” for K stock which previously was a “an Underweight”.
Analyzing K Stock Performance
During the last five days, there has been a drop of approximately -2.45%. Over the course of the year, Kellanova Co shares have jumped approximately 0.47%. Shares of the company reached a 52-week high of $58.23 on 01/03/24 and a 52-week low of $52.46 on 03/14/24. A 50-day SMA is recorded $55.35, while a 200-day SMA reached $57.12. Nevertheless, trading volume fell to 2.78 million shares from 2.18 million shares the previous day.
Support And Resistance Levels for Kellanova Co (K)
According to the 24-hour chart, there is a support level at 55.67, which, if violated, would cause prices to drop to 55.18. In the upper region, resistance lies at 57.01. The next price resistance is at 57.86. RSI (Relative Strength Index) is 50.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 65.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Kellanova Co subject to short interest?
Stocks of Kellanova Co saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.32 million shares to 13.09 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 13.41 million shares. A decline of -2.44% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.23 of the overall float, the days-to-cover ratio (short ratio) decline to 3.23.
