BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 85,748 Shares of Kellanova (NYSE:K)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Kellanova (NYSE:K) by 16.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 593,241 shares of the company’s stock after buying an additional 85,748 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.17% of Kellanova worth $33,987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bfsg LLC raised its position in shares of Kellanova by 64.5% during the first quarter. Bfsg LLC now owns 510 shares of the company’s stock worth $29,000 after purchasing an additional 200 shares during the period. BNP Paribas acquired a new position in shares of Kellanova during the first quarter worth approximately $30,000. Motco raised its position in shares of Kellanova by 757.6% during the fourth quarter. Motco now owns 566 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. raised its position in shares of Kellanova by 55.1% during the fourth quarter. Blue Trust Inc. now owns 580 shares of the company’s stock worth $34,000 after purchasing an additional 206 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Kellanova by 139.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 736 shares of the company’s stock worth $41,000 after purchasing an additional 428 shares during the period. 83.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson upped their price objective on Kellanova from $67.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their price objective on Kellanova from $59.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays upped their price objective on Kellanova from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. TD Cowen upped their price objective on Kellanova from $57.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, Bank of America cut their price target on Kellanova from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Twelve equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.85.

Kellanova Price Performance

NYSE K traded down $0.50 during trading hours on Friday, hitting $58.33. The company had a trading volume of 112,069 shares, compared to its average volume of 2,805,136. Kellanova has a 52 week low of $47.63 and a 52 week high of $68.23. The firm has a 50 day simple moving average of $59.03 and a 200 day simple moving average of $57.06. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.41 and a current ratio of 0.62. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.09 and a beta of 0.34.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. Kellanova had a return on equity of 37.07% and a net margin of 6.41%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Kellanova will post 3.62 earnings per share for the current year.

Kellanova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.84%. Kellanova’s payout ratio is currently 83.90%.

Insider Buying and Selling at Kellanova

In other Kellanova news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total value of $588,490.00. Following the sale, the senior vice president now owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Nicolas Amaya sold 9,800 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $588,490.00. Following the transaction, the senior vice president now directly owns 26,191 shares of the company’s stock, valued at approximately $1,572,769.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $58.00, for a total value of $4,512,400.00. Following the transaction, the insider now directly owns 51,842,238 shares in the company, valued at $3,006,849,804. The disclosure for this sale can be found here. Insiders have sold a total of 865,600 shares of company stock valued at $50,904,084 in the last 90 days. Corporate insiders own 1.80% 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.