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DA Davidson initates Kellanova Co (K) rating to a Buy

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Kellanova Co’s recent filing unveils that its 10% Owner KELLOGG W K FOUNDATION TRUST unloaded Company’s shares for reported $4.51 million on Apr 29 ’24. In the deal valued at $58.00 per share,77,800 shares were sold. As a result of this transaction, KELLOGG W K FOUNDATION TRUST now holds 51,842,238 shares worth roughly $3.02 billion.

Then, KELLOGG W K FOUNDATION TRUST sold 77,800 shares, generating $4,493,386 in total proceeds. Upon selling the shares at $57.76, the 10% Owner now owns 51,920,038 shares.

Before that, KELLOGG W K FOUNDATION TRUST sold 77,800 shares. Kellanova Co shares valued at $4,306,051 were divested by the 10% Owner at a price of $55.35 per share. As a result of the transaction, KELLOGG W K FOUNDATION TRUST now holds 51,997,838 shares, worth roughly $3.03 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 0.83% to $58.21. Over the last five days, the stock has gained 0.40%. Kellanova Co shares have risen nearly 4.11% since the year began. Nevertheless, the stocks have fallen -10.47% over the past one year. While a 52-week high of $67.84 was reached on 04/25/24, a 52-week low of $47.62 was recorded on 03/14/24. SMA at 50 days reached $55.98, while 200 days put it at $56.50. A total of 3.04 million shares were traded, compared to the trading of 4.42 million shares in the previous session.

Levels Of Support And Resistance For K Stock

The 24-hour chart illustrates a support level at 57.91, which if violated will result in even more drops to 57.61. On the upside, there is a resistance level at 58.38. A further resistance level may holdings at 58.55. The Relative Strength Index (RSI) on the 14-day chart is 60.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 23.91%. Stochastics %K at 74.19% indicates the stock is a holding.

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