Leelyn Smith LLC Grows Stake in Kellanova $K

Leelyn Smith LLC grew its position in shares of Kellanova (NYSE:K) by 1.1% in the second quarter, Holdings Channel reports. The firm owned 34,937 shares of the company’s stock after purchasing an additional 379 shares during the period. Leelyn Smith LLC’s holdings in Kellanova were worth $2,779,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its holdings in shares of Kellanova by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 6,373 shares of the company’s stock valued at $526,000 after acquiring an additional 123 shares during the period. Independent Advisor Alliance increased its holdings in shares of Kellanova by 1.8% in the 1st quarter. Independent Advisor Alliance now owns 7,334 shares of the company’s stock valued at $605,000 after acquiring an additional 131 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Kellanova by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,423 shares of the company’s stock valued at $860,000 after acquiring an additional 132 shares during the period. Cigna Investments Inc. New increased its holdings in shares of Kellanova by 5.3% in the 2nd quarter. Cigna Investments Inc. New now owns 2,797 shares of the company’s stock valued at $222,000 after acquiring an additional 141 shares during the period. Finally, Ethic Inc. increased its holdings in shares of Kellanova by 0.9% in the 2nd quarter. Ethic Inc. now owns 17,216 shares of the company’s stock valued at $1,360,000 after acquiring an additional 150 shares during the period. 83.87% of the stock is owned by institutional investors.

Kellanova Stock Down 0.0%

Shares of NYSE:K opened at $83.01 on Friday. The company has a 50 day moving average of $80.53 and a two-hundred day moving average of $80.85. Kellanova has a 52-week low of $76.48 and a 52-week high of $83.22. The company has a market capitalization of $28.86 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 5.16 and a beta of 0.24. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 1.03.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. Kellanova had a return on equity of 32.54% and a net margin of 10.56%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share. As a group, analysts forecast that Kellanova will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,599 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $79.55, for a total transaction of $9,116,350.45. Following the sale, the insider directly owned 45,097,438 shares in the company, valued at approximately $3,587,501,192.90. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 458,348 shares of company stock valued at $36,597,937. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Kellanova from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. JPMorgan Chase & Co. started coverage on shares of Kellanova in a report on Wednesday, August 20th. They issued a “neutral” rating and a $83.50 target price on the stock. Finally, Weiss Ratings upgraded shares of Kellanova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.38.

About Kellanova

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.