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

Kellanova (NYSE:K) was the recipient of unusually large options trading on Friday. Stock investors purchased 16,411 call options on the company. This represents an increase of approximately 433% compared to the average volume of 3,081 call options.

Institutional Trading of Kellanova

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new position in Kellanova in the third quarter valued at approximately $8,656,000. Danske Bank A S acquired a new stake in shares of Kellanova in the 3rd quarter valued at approximately $19,576,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Kellanova in the third quarter valued at $247,000. Kestra Private Wealth Services LLC increased its holdings in Kellanova by 19.4% during the third quarter. Kestra Private Wealth Services LLC now owns 3,299 shares of the company’s stock worth $271,000 after buying an additional 535 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Kellanova by 3.6% during the third quarter. NewEdge Advisors LLC now owns 8,420 shares of the company’s stock worth $691,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 83.87% of the company’s stock.

Kellanova Stock Up 0.0%

Shares of NYSE K traded up $0.03 during midday trading on Friday, reaching $83.63. The company’s stock had a trading volume of 794,584 shares, compared to its average volume of 2,899,365. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a fifty-two week low of $76.48 and a fifty-two week high of $83.65. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 5.16 and a beta of 0.23. The stock has a 50 day simple moving average of $82.36 and a 200-day simple moving average of $80.98.

Kellanova (NYSE:K) last announced its earnings results on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts predict that Kellanova will post 3.93 earnings per share for the current year.

Kellanova Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on K. Weiss Ratings cut shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. 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 on the stock. Finally, Wall Street Zen upgraded Kellanova from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.50.

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.