BNP Paribas Financial Markets Has $48.90 Million Stake in Kellanova (NYSE:K)

BNP Paribas Financial Markets lessened its holdings in shares of Kellanova (NYSE:K) by 34.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 605,909 shares of the company’s stock after selling 321,320 shares during the period. BNP Paribas Financial Markets owned about 0.18% of Kellanova worth $48,903,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its position in Kellanova by 20.5% during the third quarter. Swedbank AB now owns 273,521 shares of the company’s stock worth $22,076,000 after purchasing an additional 46,450 shares during the period. SG Americas Securities LLC increased its stake in shares of Kellanova by 498.7% in the 2nd quarter. SG Americas Securities LLC now owns 260,901 shares of the company’s stock valued at $15,049,000 after purchasing an additional 217,320 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Kellanova by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock worth $30,169,000 after buying an additional 24,067 shares in the last quarter. Atria Investments Inc bought a new stake in shares of Kellanova during the 1st quarter worth $1,003,000. Finally, Tidal Investments LLC boosted its stake in Kellanova by 36.7% in the first quarter. Tidal Investments LLC now owns 37,451 shares of the company’s stock valued at $2,145,000 after buying an additional 10,051 shares in the last quarter. 83.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on K shares. Barclays increased their target price on shares of Kellanova from $67.00 to $83.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of Kellanova in a research report on Monday, August 12th. They issued a “neutral” rating and a $75.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kellanova from $76.00 to $83.50 and gave the stock a “hold” rating in a report on Thursday, August 15th. Evercore ISI raised Kellanova to a “hold” rating in a report on Friday, August 2nd. Finally, Bank of America raised 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 report on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kellanova currently has a consensus rating of “Hold” and a consensus target price of $76.35.

Kellanova Price Performance

K opened at $81.15 on Friday. Kellanova has a 1 year low of $51.02 and a 1 year high of $81.34. 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 capitalization of $27.97 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 2.61 and a beta of 0.39. The firm’s fifty day moving average price is $80.81 and its two-hundred day moving average price is $71.19.

Kellanova (NYSE:K) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Insider Buying and Selling

In other 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 owns 50,368,272 shares in the company, valued at $4,062,201,136.80. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 1,031,247 shares of company stock worth $83,211,320. 1.80% of the stock is owned by company insiders.

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.