Kellanova (NYSE:K) Rating Lowered to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of Kellanova (NYSE:K) from an outperform rating to a neutral rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has $83.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Bank of America raised Kellanova from a “neutral” rating to a “buy” rating and increased their target price for the company from $62.00 to $70.00 in a report on Friday, August 2nd. DA Davidson lowered Kellanova from a “buy” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $83.50 in a research report on Monday, August 26th. Royal Bank of Canada cut Kellanova from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $76.00 to $83.50 in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kellanova from $76.00 to $83.50 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, StockNews.com assumed coverage on shares of Kellanova in a research report on Sunday, October 27th. They set a “hold” rating for the company. Sixteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Kellanova currently has an average rating of “Hold” and an average price target of $74.96.

Kellanova Stock Down 0.0 %

Shares of K opened at $80.60 on Friday. The company’s 50-day simple moving average is $80.63 and its 200-day simple moving average is $68.53. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.48 and a current ratio of 0.77. Kellanova has a 1 year low of $50.81 and a 1 year high of $81.26. The stock has a market capitalization of $27.78 billion, a PE ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Analysts forecast that Kellanova will post 3.71 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The business 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. Kellanova’s payout ratio is currently 78.35%.

Insider Activity at Kellanova

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the sale, the insider now owns 50,753,038 shares in the company, valued at $4,062,780,691.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $80.05, for a total value of $6,227,890.00. Following the sale, the insider now directly owns 50,753,038 shares of the company’s stock, valued at approximately $4,062,780,691.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $80.25, for a total transaction of $9,195,285.75. Following the transaction, the insider now owns 50,482,855 shares of the company’s stock, valued at $4,051,249,113.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,227,864 shares of company stock worth $98,438,243 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Kellanova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in K. Norden Group LLC purchased a new stake in Kellanova in the 1st quarter worth approximately $395,000. Sequoia Financial Advisors LLC increased its stake in Kellanova by 23.3% in the first quarter. Sequoia Financial Advisors LLC now owns 9,751 shares of the company’s stock valued at $559,000 after purchasing an additional 1,841 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kellanova by 18.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,172 shares of the company’s stock worth $6,827,000 after buying an additional 18,224 shares during the period. BNP Paribas Financial Markets lifted its position in Kellanova by 95.9% during the first quarter. BNP Paribas Financial Markets now owns 969,096 shares of the company’s stock worth $55,520,000 after buying an additional 474,530 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Kellanova by 3.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,382 shares of the company’s stock worth $2,428,000 after buying an additional 1,504 shares during the last quarter. Hedge funds and other institutional investors 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.