Leelyn Smith LLC Cuts Stock Position in Kellanova (NYSE:K)

Leelyn Smith LLC decreased its stake in Kellanova (NYSE:K) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,575 shares of the company’s stock after selling 1,180 shares during the quarter. Leelyn Smith LLC’s holdings in Kellanova were worth $2,881,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new stake in shares of Kellanova during the fourth quarter worth approximately $27,000. BankPlus Trust Department acquired a new stake in Kellanova during the 4th quarter worth $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Kellanova during the fourth quarter worth $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova in the fourth quarter valued at about $32,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Kellanova by 64.8% in the fourth quarter. First Horizon Advisors Inc. now owns 440 shares of the company’s stock worth $36,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on K shares. StockNews.com assumed coverage on shares of Kellanova in a report on Wednesday, March 12th. They issued a “hold” rating for the company. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and set a $83.50 price target for the company in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.96.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.85, for a total value of $9,264,035.55. Following the sale, the insider now owns 48,764,110 shares in the company, valued at approximately $3,942,578,293.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,260,413 shares of company stock valued at $103,099,492. Company insiders own 1.80% of the company’s stock.

Kellanova Price Performance

K stock opened at $82.36 on Tuesday. Kellanova has a 52-week low of $53.41 and a 52-week high of $83.22. The company has a quick ratio of 0.56, a current ratio of 0.81 and a debt-to-equity ratio of 1.29. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31. The business has a fifty day moving average of $82.07 and a two-hundred day moving average of $81.20.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.61. Kellanova had a return on equity of 37.25% and a net margin of 10.53%. As a group, research analysts anticipate that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 annualized dividend and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is currently 58.91%.

Kellanova 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.