Leelyn Smith LLC Purchases 1,004 Shares of Kellanova (NYSE:K)

Leelyn Smith LLC increased its stake in Kellanova (NYSE:K) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,675 shares of the company’s stock after buying an additional 1,004 shares during the period. Leelyn Smith LLC’s holdings in Kellanova were worth $2,115,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in Kellanova in the fourth quarter worth about $74,000. Dimensional Fund Advisors LP boosted its holdings in Kellanova by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,907 shares of the company’s stock worth $124,893,000 after purchasing an additional 9,726 shares during the last quarter. Ieq Capital LLC boosted its holdings in Kellanova by 91.4% in the fourth quarter. Ieq Capital LLC now owns 8,376 shares of the company’s stock worth $468,000 after purchasing an additional 3,999 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Kellanova by 9.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 307,031 shares of the company’s stock worth $17,648,000 after purchasing an additional 25,780 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in Kellanova by 22.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 37,033 shares of the company’s stock worth $2,071,000 after acquiring an additional 6,784 shares during the period. 83.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $57.64, for a total transaction of $4,484,392.00. Following the completion of the sale, the insider now directly owns 51,219,838 shares in the company, valued at $2,952,311,462.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $57.64, for a total value of $4,484,392.00. Following the transaction, the insider now directly owns 51,219,838 shares in the company, valued at approximately $2,952,311,462.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 892,583 shares of company stock worth $60,355,010. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on K shares. Royal Bank of Canada downgraded shares of Kellanova from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. BNP Paribas raised shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Monday, August 5th. Barclays lifted their price target on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Kellanova in a report on Monday, August 12th. They set a “neutral” rating and a $75.00 price objective for the company. Fourteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.32.

Kellanova Stock Up 0.5 %

Kellanova stock opened at $80.68 on Friday. The stock has a market capitalization of $27.62 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. Kellanova has a 12 month low of $47.63 and a 12 month high of $80.97. The business has a 50 day simple moving average of $69.97 and a 200-day simple moving average of $62.06. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, analysts anticipate that Kellanova will post 3.7 EPS for the current fiscal year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. This is a boost from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, September 3rd. Kellanova’s payout ratio is presently 85.39%.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.