Kellanova (NYSE:K) Downgraded to Neutral Rating by BNP Paribas

BNP Paribas downgraded shares of Kellanova (NYSE:K) from an outperform rating to a neutral rating in a report published on Friday, MarketBeat.com reports. The firm currently has $83.00 price target on the stock.

A number of other analysts also recently weighed in on the stock. DA Davidson downgraded shares of Kellanova from a “buy” rating to a “neutral” rating and increased their target price for the company from $80.00 to $83.50 in a research report on Monday, August 26th. Stifel Nicolaus boosted their price objective on Kellanova from $64.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and raised their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, StockNews.com began coverage on shares of Kellanova in a research report on Sunday, October 27th. They set a “hold” rating for the company. Sixteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kellanova currently has an average rating of “Hold” and an average target price of $74.96.

Kellanova Price Performance

K traded down $0.04 on Friday, reaching $80.61. The stock had a trading volume of 3,773,971 shares, compared to its average volume of 3,081,676. The firm has a 50-day moving average of $80.63 and a 200-day moving average of $68.18. Kellanova has a fifty-two week low of $50.81 and a fifty-two week high of $81.26. The company has a market capitalization of $27.78 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 2.60 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $1.03 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Kellanova will post 3.7 EPS for the current year.

Kellanova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is presently 86.36%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now directly owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares in the company, valued at approximately $4,012,219,308.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the completion of the sale, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,227,864 shares of company stock valued at $98,438,243. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

Several hedge funds and other institutional investors have recently modified their holdings of K. Assetmark Inc. lifted its holdings in Kellanova by 26.2% during the 3rd quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $51,000 after purchasing an additional 131 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Kellanova during the third quarter valued at about $55,000. Valley Brook Capital Group Inc. purchased a new stake in shares of Kellanova in the third quarter worth about $230,000. Olympiad Research LP bought a new position in shares of Kellanova in the third quarter valued at approximately $2,006,000. Finally, Principal Financial Group Inc. grew its stake in Kellanova by 6.9% during the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after acquiring an additional 24,067 shares in the last quarter. Institutional investors 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.