BNP Paribas Financial Markets Sells 321,320 Shares of Kellanova (NYSE:K)

BNP Paribas Financial Markets cut its holdings in Kellanova (NYSE:K) by 34.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 605,909 shares of the company’s stock after selling 321,320 shares during the period. BNP Paribas Financial Markets’ holdings in Kellanova were worth $48,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of K. Blue Trust Inc. lifted its holdings in shares of Kellanova by 57.2% in the second quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. purchased a new stake in Kellanova in the 2nd quarter worth approximately $29,000. CVA Family Office LLC boosted its holdings in Kellanova by 529.3% in the 3rd quarter. CVA Family Office LLC now owns 365 shares of the company’s stock valued at $29,000 after purchasing an additional 307 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Kellanova by 61.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 523 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in shares of Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 137 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Kellanova Trading Up 0.0 %

NYSE:K opened at $81.15 on Friday. The stock has a market cap of $27.97 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 2.61 and a beta of 0.39. 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 company’s 50 day moving average price is $80.81 and its 200-day moving average price is $71.19. Kellanova has a 52 week low of $51.02 and a 52 week high of $81.34.

Kellanova (NYSE:K) last posted its earnings results on Thursday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. On average, equities research analysts forecast that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on K. Bank of America upgraded Kellanova from a “neutral” rating to a “buy” rating and upped their target price for the stock from $62.00 to $70.00 in a research note on Friday, August 2nd. BNP Paribas lowered shares of Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Friday, November 1st. The Goldman Sachs Group began coverage on Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 price target on the stock. Barclays lifted their price objective on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Finally, Piper Sandler lifted their price objective on Kellanova from $63.00 to $83.50 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Fifteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.35.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $80.99, for a total value of $9,280,077.17. Following the transaction, the insider now directly owns 49,337,025 shares in the company, valued at $3,995,805,654.75. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 1,031,247 shares of company stock worth $83,211,320. Company insiders own 1.80% of the company’s stock.

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.