Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kellanova Co shares valued at $6,249,098 were sold by KELLOGG W K FOUNDATION TRUST on Aug 21 ’24. At $80.32 per share, KELLOGG W K FOUNDATION TRUST sold 77,800 shares. The insider’s holdings dropped to 50,675,238 shares worth approximately $4.09 billion following the completion of this transaction.
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Also, KELLOGG W K FOUNDATION TRUST sold 77,800 shares, netting a total of over 6,227,517 in proceeds. Following the sale of shares at $80.05 each, the insider now holds 50,753,038 shares.
Before that, KELLOGG W K FOUNDATION TRUST had added 311,200 shares to its account. In a trade valued at $23,031,414, the Owner of approximately 20% of bought Kellanova Co shares for $74.01 each.
As published in a research note from RBC Capital Mkts on August 15, 2024, Kellanova Co [K] has been rated down from an Outperform to a Sector perform. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid August. As of August 05, 2024, RBC Capital Mkts has increased its “Sector perform” rating to a “an Outperform” for K. Earlier on August 05, 2024, Exane BNP Paribas upgraded its rating. Their new recommendation was “an Outperform” for K stock which previously was a “a Neutral”.
Analyzing K Stock Performance
During the last five days, there has been a surge of approximately 0.45%. Over the course of the year, Kellanova Co shares have jumped approximately 44.23%. Shares of the company reached a 52-week high of $80.68 on 08/22/24 and a 52-week low of $52.46 on 03/14/24. A 50-day SMA is recorded $63.17, while a 200-day SMA reached $57.82. Nevertheless, trading volume fell to 4.34 million shares from 4.54 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 80.51, which, if violated, would cause prices to drop to 80.37. In the upper region, resistance lies at 80.73. The next price resistance is at 80.81. RSI (Relative Strength Index) is 87.99 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.38, which suggests the price will increase in the coming days. Percent R is at 0.39%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
