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

Kellanova (NYSE:K) was the target of some unusual options trading on Friday. Traders acquired 153,624 call options on the company. This represents an increase of approximately 2,355% compared to the average volume of 6,257 call options.

Kellanova Stock Up 0.2 %

Shares of K opened at $81.29 on Friday. Kellanova has a one year low of $51.02 and a one year high of $81.34. The firm has a 50 day simple moving average of $80.82 and a two-hundred day simple moving average of $71.32. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.53. The company has a market cap of $28.02 billion, a P/E ratio of 27.93, a P/E/G ratio of 2.61 and a beta of 0.39.

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

Kellanova Dividend Announcement

The company also recently declared 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. This represents a $2.28 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is currently 78.35%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Barclays lifted their target price on Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Royal Bank of Canada downgraded shares of 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 note on Thursday, August 15th. StockNews.com initiated coverage on shares of Kellanova in a research note on Thursday. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They set a “neutral” rating and a $75.00 target price on the stock. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Kellanova has a consensus rating of “Hold” and an average target price of $76.35.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $80.65, for a total transaction of $9,241,118.95. Following the completion of the sale, the insider now directly owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,145,830 shares of company stock worth $92,516,606. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kellanova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. increased its stake in shares of Kellanova by 766.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,881,625 shares of the company’s stock valued at $108,532,000 after buying an additional 1,664,461 shares during the period. Maverick Capital Ltd. bought a new stake in shares of Kellanova in the 2nd quarter valued at $88,065,000. Westchester Capital Management LLC bought a new stake in Kellanova in the third quarter valued at $107,795,000. Point72 Asset Management L.P. bought a new stake in Kellanova in the 2nd quarter valued at about $63,585,000. Finally, Barclays PLC increased its holdings in shares of Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after acquiring an additional 1,033,383 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

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.