Greenleaf Trust Grows Stock Position in Kellanova (NYSE:K)

Greenleaf Trust grew its position in shares of Kellanova (NYSE:K) by 6.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,796 shares of the company’s stock after purchasing an additional 759 shares during the period. Greenleaf Trust’s holdings in Kellanova were worth $1,033,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in K. Swedbank AB increased its holdings in Kellanova by 20.5% during the 3rd quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Kellanova by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 256,520 shares of the company’s stock worth $14,705,000 after buying an additional 10,676 shares during the last quarter. SG Americas Securities LLC raised its holdings in Kellanova by 498.7% in the second quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after acquiring an additional 217,320 shares in the last quarter. M&G Plc bought a new position in Kellanova during the 1st quarter valued at $9,346,000. Finally, Atria Investments Inc acquired a new position in Kellanova in the first quarter worth about $1,003,000. 83.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on K shares. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research note on Monday, August 5th. Evercore ISI upgraded Kellanova to a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $83.50 in a report on Thursday, August 15th. Finally, StockNews.com started coverage on shares of Kellanova in a report on Saturday, October 19th. They issued a “hold” rating for the company. Fifteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kellanova currently has a consensus rating of “Hold” and an average target price of $74.32.

Kellanova Price Performance

Shares of K opened at $81.02 on Friday. The firm has a market capitalization of $27.70 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. The stock’s fifty day moving average is $80.58 and its 200-day moving average is $67.15. Kellanova has a one year low of $49.79 and a one year high of $81.26. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.48 and a current ratio of 0.73.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Equities analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.23, for a total transaction of $4,452,494.00. Following the completion of the transaction, the insider now owns 50,908,638 shares of the company’s stock, valued at $2,913,501,352.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.25, for a total value of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares in the company, valued at approximately $4,051,249,113.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.23, for a total value of $4,452,494.00. Following the completion of the transaction, the insider now directly owns 50,908,638 shares in the company, valued at $2,913,501,352.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,191,081 shares of company stock valued at $93,637,014 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.