Mon Sep 23 22:28:49 UTC 2024: ## Kellanova Major Shareholder Dumps Millions in Stock

**New York, NY** – A major shareholder of Kellanova (NYSE: K), the Kellogg W. K. Foundation Trust, sold a significant chunk of their stock on Monday, September 23rd. The transaction involved 114,583 shares, sold at an average price of $80.68, totaling $9,244,556.44. This sale leaves the insider with 50,253,689 shares, valued at approximately $4,054,467,628.52.

The transaction was disclosed to the SEC, as required for major shareholders holding 10% or more of a company’s stock.

Following the news, Kellanova shares dipped slightly, closing at $80.62, a decrease of $0.19. Trading volume was heavier than usual, with 1,642,554 shares changing hands compared to the average volume of 3,285,829.

Despite this single sale, Kellanova has seen significant interest from institutional investors recently. D.E. Shaw & Co. Inc., Maverick Capital Ltd., Vanguard Group Inc., Point72 Asset Management L.P., and Boston Partners have all bought or increased their stakes in Kellanova during recent quarters. Institutional investors currently own 83.87% of the company’s stock.

Kellanova’s recent earnings report, released on August 1st, showed strong performance. The company beat analysts’ estimates for both earnings per share and revenue, reporting $1.01 EPS and $3.19 billion in revenue.

Despite the positive earnings report, analysts remain somewhat mixed on the company’s future. Fourteen investment analysts have rated the stock with a “hold” rating, while two have issued a “buy” rating.

**About Kellanova:**

Kellanova manufactures and markets snacks and convenience foods globally, including brands like Kellogg’s, Pringles, Cheez-Its, and Pop-Tarts. The company has a market cap of $27.56 billion.

**Disclaimer:** This is a news article summarizing information from the provided text. It is not financial advice and should not be considered as such. Please consult with a qualified financial professional for any investment decisions.

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