Kellanova (NYSE:K) Holdings Decreased by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in shares of Kellanova (NYSE:K - Free Report) by 34.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 605,909 shares of the company's stock after selling 321,320 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.18% of Kellanova worth $48,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. D. E. Shaw & Co. Inc. increased its position in Kellanova by 766.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company's stock worth $108,532,000 after purchasing an additional 1,664,461 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Kellanova during the second quarter worth about $88,065,000. Point72 Asset Management L.P. acquired a new position in shares of Kellanova in the second quarter valued at approximately $63,585,000. Boston Partners lifted its stake in shares of Kellanova by 117.1% during the first quarter. Boston Partners now owns 1,278,079 shares of the company's stock valued at $73,221,000 after buying an additional 689,395 shares during the period. Finally, AQR Capital Management LLC boosted its position in Kellanova by 130.1% during the second quarter. AQR Capital Management LLC now owns 1,077,018 shares of the company's stock worth $62,122,000 after acquiring an additional 608,989 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company's stock.

Analysts Set New Price Targets

K has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Kellanova in a research note on Thursday. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Kellanova from $76.00 to $83.50 and gave the company a "hold" rating in a report on Thursday, August 15th. Argus lowered shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 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 report on Friday, August 2nd. Finally, The Goldman Sachs Group began coverage on shares of Kellanova in a research note on Monday, August 12th. They set a "neutral" rating and a $75.00 price target on the stock. Fifteen analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Kellanova currently has a consensus rating of "Hold" and an average target price of $76.35.

Insider Buying and Selling

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $81.21, for a total transaction of $9,305,285.43. Following the completion of the transaction, the insider now directly owns 49,222,442 shares of the company's stock, valued at $3,997,354,514.82. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 1,145,830 shares of company stock worth $92,516,606. 1.80% of the stock is currently owned by corporate insiders.

Kellanova Stock Up 0.2 %

Kellanova stock traded up $0.15 during midday trading on Friday, hitting $81.30. 1,054,007 shares of the company were exchanged, compared to its average volume of 2,993,080. The company has a market cap of $28.02 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Kellanova has a fifty-two week low of $51.02 and a fifty-two week high of $81.34. The company's fifty day moving average price is $80.81 and its 200-day moving average price is $71.19. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53.

Kellanova (NYSE:K - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion during 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%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, research analysts predict that Kellanova will post 3.74 EPS for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova's payout ratio is 78.35%.

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.