Stock Traders Buy High Volume of Call Options on Kellanova (NYSE:K)

Kellanova (NYSE:K) saw some unusual options trading on Monday. Traders acquired 2,787 call options on the stock. This represents an increase of 60% compared to the typical daily volume of 1,743 call options.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on K shares. DA Davidson upped their price target on Kellanova from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Kellanova from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. BNP Paribas upgraded Kellanova from a “neutral” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Monday. Royal Bank of Canada raised Kellanova from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $62.00 to $76.00 in a report on Monday. Finally, Piper Sandler increased their price objective on shares of Kellanova from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.93.

Kellanova Price Performance

NYSE:K opened at $73.33 on Wednesday. The stock has a market capitalization of $25.07 billion, a PE ratio of 27.46, a P/E/G ratio of 2.22 and a beta of 0.34. Kellanova has a 1-year low of $47.63 and a 1-year high of $75.40. The firm has a fifty day simple moving average of $58.50 and a 200 day simple moving average of $57.39. The company has a current ratio of 0.73, a quick ratio of 0.41 and a debt-to-equity ratio of 1.46.

Kellanova (NYSE:K) last announced its earnings results on Thursday, August 1st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Kellanova had a net margin of 6.72% and a return on equity of 36.74%. Kellanova’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, research analysts expect that Kellanova will post 3.68 EPS for the current fiscal year.

Kellanova Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, September 3rd. This is a boost from Kellanova’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 3.11%. Kellanova’s dividend payout ratio (DPR) is currently 85.39%.

Insider Buying and Selling at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of Kellanova stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $62.31, for a total value of $4,847,718.00. Following the transaction, the insider now owns 51,686,638 shares in the company, valued at approximately $3,220,594,413.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 778,000 shares of company stock worth $45,509,110 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Kellanova

A number of large investors have recently added to or reduced their stakes in K. Norges Bank acquired a new stake in shares of Kellanova in the 4th quarter valued at $150,184,000. Vanguard Group Inc. increased its holdings in shares of Kellanova by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 32,150,331 shares of the company’s stock worth $1,797,525,000 after buying an additional 1,130,582 shares in the last quarter. Anchor Capital Advisors LLC bought a new position in shares of Kellanova in the 4th quarter valued at $38,939,000. Boston Partners boosted its holdings in shares of Kellanova by 117.1% during the 1st quarter. Boston Partners now owns 1,278,079 shares of the company’s stock valued at $73,221,000 after acquiring an additional 689,395 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in Kellanova by 15.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 4,891,869 shares of the company’s stock worth $273,504,000 after acquiring an additional 655,686 shares during the last quarter. Institutional investors and hedge funds 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.