Traders Buy Large Volume of Kellanova Call Options (NYSE:K)

Kellanova (NYSE:K) was the recipient of some unusual options trading on Monday. Stock traders purchased 2,787 call options on the company. This represents an increase of 60% compared to the average daily volume of 1,743 call options.

Kellanova Trading Up 0.2 %

Shares of K stock opened at $73.33 on Wednesday. The company has a market capitalization of $25.07 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.34. The company has a current ratio of 0.73, a quick ratio of 0.41 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $58.50 and its two-hundred day moving average is $57.39. Kellanova has a twelve month low of $47.63 and a twelve month high of $75.40.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. Equities analysts forecast that Kellanova will post 3.68 EPS for the current year.

Kellanova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.11%. This is a positive change from Kellanova’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, September 3rd. Kellanova’s payout ratio is 85.39%.

Wall Street Analyst Weigh In

K has been the subject of several analyst reports. Barclays upped their price objective on Kellanova from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday. TD Cowen increased their price target on shares of Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. BNP Paribas upgraded shares of Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 price objective for the company in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, DA Davidson boosted their price target on shares of Kellanova from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kellanova presently has an average rating of “Hold” and a consensus target price of $66.93.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $62.31, for a total transaction of $4,847,718.00. Following the sale, the insider now owns 51,686,638 shares in the company, valued at approximately $3,220,594,413.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 778,000 shares of company stock worth $45,509,110. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of hedge funds have recently added to or reduced their stakes in K. Blue Trust Inc. grew its position in Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after buying an additional 206 shares during the period. Ballentine Partners LLC acquired a new position in Kellanova during the fourth quarter worth about $247,000. Arizona State Retirement System lifted its holdings in shares of Kellanova by 0.6% in the fourth quarter. Arizona State Retirement System now owns 75,272 shares of the company’s stock valued at $4,208,000 after purchasing an additional 462 shares in the last quarter. Private Trust Co. NA grew its position in shares of Kellanova by 17.8% in the fourth quarter. Private Trust Co. NA now owns 3,906 shares of the company’s stock valued at $218,000 after purchasing an additional 590 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Kellanova by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 270,584 shares of the company’s stock worth $15,050,000 after purchasing an additional 14,217 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

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.