Kellanova (NYSE:K) Stock Rating Lowered by BNP Paribas

BNP Paribas downgraded shares of Kellanova (NYSE:K - Free Report) from an outperform rating to a neutral rating in a research note released on Friday morning, Marketbeat.com reports. BNP Paribas currently has $83.00 target price on the stock.

A number of other analysts have also weighed in on the company. Wells Fargo & Company increased their price objective on Kellanova from $76.00 to $83.50 and gave the company an "equal weight" rating in a research note on Thursday, August 15th. Evercore ISI raised shares of Kellanova to a "hold" rating in a report on Friday, August 2nd. Piper Sandler upped their price objective on shares of Kellanova from $63.00 to $83.50 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Barclays raised their target price on Kellanova from $67.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada lowered Kellanova from an "outperform" rating to a "sector perform" rating and upped their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. 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 has a consensus rating of "Hold" and an average target price of $74.96.

Kellanova Price Performance

K stock traded down $0.04 during midday trading on Friday, reaching $80.61. The company had a trading volume of 3,732,338 shares, compared to its average volume of 3,081,676. The firm has a 50-day moving average price of $80.63 and a 200-day moving average price of $68.09. The company has a market capitalization of $27.78 billion, a P/E ratio of 30.55, a P/E/G ratio of 2.60 and a beta of 0.39. Kellanova has a 1 year low of $50.81 and a 1 year high of $81.26. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.73 and a quick ratio of 0.48.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 36.74% and a net margin of 6.72%. The company's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. On average, research analysts anticipate that Kellanova will post 3.7 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova's payout ratio is 86.36%.

Insider Buying and Selling at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total transaction of $5,757,978.00. Following the completion of the sale, the insider now directly owns 50,830,838 shares in the company, valued at $3,761,990,320.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $74.01, for a total value of $5,757,978.00. Following the transaction, the insider now directly owns 50,830,838 shares of the company's stock, valued at approximately $3,761,990,320.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova 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 transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,227,864 shares of company stock worth $98,438,243. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Kellanova by 57.2% during the 2nd quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after buying an additional 170 shares during the period. Family Firm Inc. bought a new stake in shares of Kellanova in the 2nd quarter worth about $29,000. CVA Family Office LLC boosted its stake in shares of Kellanova by 529.3% during the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company's stock worth $29,000 after purchasing an additional 307 shares during the period. BNP Paribas bought a new position in Kellanova during the 1st quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. raised its position in Kellanova by 61.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company's stock worth $30,000 after purchasing an additional 200 shares during the period. Institutional investors 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.