Kellanova Sees Unusually High Options Volume (NYSE:K)

Kellanova (NYSE:K) was the target of unusually large options trading on Friday. Stock investors acquired 16,411 call options on the stock. This is an increase of 433% compared to the typical daily volume of 3,081 call options.

Hedge Funds Weigh In On Kellanova

Institutional investors have recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new stake in shares of Kellanova during the first quarter valued at about $25,000. BNP Paribas boosted its holdings in Kellanova by 110.7% in the third quarter. BNP Paribas now owns 354 shares of the company’s stock valued at $29,000 after purchasing an additional 186 shares during the last quarter. Close Asset Management Ltd acquired a new stake in Kellanova during the 3rd quarter valued at approximately $33,000. Wealth Watch Advisors INC purchased a new stake in Kellanova during the 3rd quarter worth approximately $33,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Kellanova in the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Performance

Kellanova stock opened at $83.81 on Friday. The firm has a market capitalization of $29.16 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 5.16 and a beta of 0.23. Kellanova has a one year low of $76.48 and a one year high of $83.65. The stock’s 50 day moving average price is $82.49 and its 200 day moving average price is $80.99. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.45 and a current ratio of 0.68.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. Kellanova’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 annualized dividend and a yield of 2.8%. Kellanova’s payout ratio is 63.74%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Kellanova in a research report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 price target for the company. Weiss Ratings cut Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $83.50.

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.