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

Kellanova (NYSE:K) was the target of some unusual options trading on Friday. Stock traders acquired 16,411 call options on the stock. This represents an increase of approximately 433% compared to the average volume of 3,081 call options.

Institutional Investors Weigh In On Kellanova

Several large investors have recently made changes to their positions in the stock. Avantax Advisory Services Inc. raised its position in Kellanova by 66.1% during the first quarter. Avantax Advisory Services Inc. now owns 15,544 shares of the company’s stock worth $1,282,000 after acquiring an additional 6,186 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Kellanova by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 84,926 shares of the company’s stock valued at $7,006,000 after purchasing an additional 1,928 shares during the period. HB Wealth Management LLC lifted its stake in Kellanova by 5.1% in the 1st quarter. HB Wealth Management LLC now owns 7,088 shares of the company’s stock valued at $585,000 after purchasing an additional 345 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kellanova by 2.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,622 shares of the company’s stock worth $10,610,000 after purchasing an additional 3,473 shares during the period. Finally, Mackenzie Financial Corp increased its position in Kellanova by 12.6% during the first quarter. Mackenzie Financial Corp now owns 26,290 shares of the company’s stock worth $2,169,000 after buying an additional 2,947 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.

Kellanova Stock Up 0.2%

Shares of K stock opened at $83.81 on Friday. The firm’s fifty day moving average price is $82.49 and its two-hundred day moving average price is $80.98. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 1.03. Kellanova has a 1 year low of $76.48 and a 1 year high of $83.65. The firm has a market capitalization of $29.16 billion, a P/E ratio of 22.00, a PEG ratio of 5.16 and a beta of 0.23.

Kellanova (NYSE:K) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Kellanova had a net margin of 10.56% and a return on equity of 32.54%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. On average, equities analysts predict that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.32 annualized dividend and a dividend yield of 2.8%. Kellanova’s payout ratio is 63.74%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Kellanova in a report on Wednesday, August 20th. They set a “neutral” rating and a $83.50 target price on the stock. Weiss Ratings downgraded shares of Kellanova from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen raised shares of Kellanova from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.50.

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.