Investors Purchase Large Volume of Kellanova Call Options (NYSE:K)

Kellanova (NYSE:K) was the recipient of some unusual options trading on Friday. Stock investors purchased 153,624 call options on the stock. This represents an increase of 2,355% compared to the typical daily volume of 6,257 call options.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on K. Evercore ISI raised shares of Kellanova to a “hold” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. BNP Paribas cut Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Friday, November 1st. Piper Sandler lifted their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada cut 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. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and a consensus price target of $76.35.

Kellanova Trading Up 0.0 %

NYSE:K traded up $0.03 during mid-day trading on Friday, hitting $81.18. The company had a trading volume of 160,975 shares, compared to its average volume of 2,988,999. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.77. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The firm has a market cap of $27.98 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39. The business’s fifty day moving average is $80.81 and its two-hundred day moving average is $71.19.

Kellanova (NYSE:K) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. Kellanova’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. As a group, research analysts expect that Kellanova will post 3.74 earnings per share for the current year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. Kellanova’s payout ratio is 78.35%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 1,031,247 shares of company stock worth $83,211,320 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

Several large investors have recently modified their holdings of K. Investors Research Corp lifted its position in Kellanova by 1.0% in the 3rd quarter. Investors Research Corp now owns 12,991 shares of the company’s stock valued at $1,049,000 after acquiring an additional 125 shares in the last quarter. Assetmark Inc. boosted its position in shares of Kellanova by 26.2% during the third quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after buying an additional 131 shares during the period. MCF Advisors LLC grew its holdings in shares of Kellanova by 48.8% during the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. S.A. Mason LLC raised its position in Kellanova by 7.6% in the 3rd quarter. S.A. Mason LLC now owns 1,987 shares of the company’s stock valued at $160,000 after buying an additional 140 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in Kellanova by 1.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company’s stock worth $690,000 after acquiring an additional 145 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors.

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.