Kellanova Target of Unusually High Options Trading (NYSE:K)

Kellanova (NYSE:K - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock traders bought 153,624 call options on the stock. This represents an increase of approximately 2,355% compared to the average daily volume of 6,257 call options.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on K. Royal Bank of Canada cut shares of Kellanova from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $76.00 to $83.50 in a research note on Thursday, August 15th. StockNews.com assumed coverage on shares of Kellanova in a research note on Thursday. They set a "hold" rating on the stock. BNP Paribas cut shares of Kellanova from an "outperform" rating to a "neutral" rating and set a $83.00 price target on the stock. in a research note on Friday, November 1st. The Goldman Sachs Group assumed 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. Finally, DA Davidson cut shares of Kellanova from a "buy" rating to a "neutral" rating and upped their price target for the stock from $80.00 to $83.50 in a research note on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kellanova has an average rating of "Hold" and a consensus price target of $76.35.

Kellanova Trading Up 0.2 %

Shares of K stock traded up $0.14 during trading hours on Friday, hitting $81.29. 1,054,007 shares of the company were exchanged, compared to its average volume of 2,993,080. The firm has a market cap of $28.02 billion, a PE ratio of 27.94, a PEG ratio of 2.61 and a beta of 0.39. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a fifty day moving average of $80.82 and a 200 day moving average of $71.26.

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

Kellanova Announces Dividend

The firm 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 $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 2.80%. 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 on Monday, September 16th. The shares were sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the sale, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,145,830 shares of company stock worth $92,516,606 in the last 90 days. 1.80% of the stock is owned by insiders.

Institutional Trading of Kellanova

Several large investors have recently bought and sold shares of the company. Investors Research Corp grew its position in Kellanova by 1.0% in the third 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. grew its position in Kellanova by 26.2% in the third quarter. Assetmark Inc. now owns 631 shares of the company's stock valued at $51,000 after acquiring an additional 131 shares in the last quarter. MCF Advisors LLC grew its position in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. S.A. Mason LLC grew its position in Kellanova by 7.6% in the third quarter. S.A. Mason LLC now owns 1,987 shares of the company's stock valued at $160,000 after acquiring an additional 140 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of Kellanova by 1.7% during the third quarter. Sanctuary Advisors LLC now owns 8,502 shares of the company's stock worth $690,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company's stock.

Kellanova Company 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.