BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $12.27 Million Holdings in Kellanova (NYSE:K)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in shares of Kellanova (NYSE:K) by 75.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,016 shares of the company’s stock after selling 463,001 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Kellanova were worth $12,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grandfield & Dodd LLC bought a new stake in Kellanova during the 3rd quarter worth approximately $225,000. Advisors Asset Management Inc. grew its stake in shares of Kellanova by 6.7% in the third quarter. Advisors Asset Management Inc. now owns 31,551 shares of the company’s stock worth $2,546,000 after purchasing an additional 1,984 shares during the last quarter. Factorial Partners LLC grew its stake in shares of Kellanova by 8.2% in the third quarter. Factorial Partners LLC now owns 22,500 shares of the company’s stock worth $1,816,000 after purchasing an additional 1,700 shares during the last quarter. Alpine Associates Management Inc. bought a new position in Kellanova during the 3rd quarter worth $25,561,000. Finally, Prospera Private Wealth LLC acquired a new position in Kellanova during the 3rd quarter worth about $232,000. Institutional investors own 83.87% of the company’s stock.

Kellanova Price Performance

Shares of K opened at $81.17 on Friday. The stock has a market cap of $27.98 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.60 and a beta of 0.39. The business’s fifty day moving average is $80.77 and its 200 day moving average is $70.65. The company has a quick ratio of 0.53, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Kellanova has a 12-month low of $51.02 and a 12-month high of $81.34.

Kellanova (NYSE:K) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue was down .7% on a year-over-year basis. Sell-side analysts anticipate that Kellanova will post 3.74 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.62, for a total value of $6,272,236.00. Following the sale, the insider now directly owns 50,597,438 shares in the company, valued at approximately $4,079,165,451.56. The trade was a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,109,047 shares of company stock valued at $89,483,556. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on K shares. StockNews.com initiated coverage on Kellanova in a research report on Wednesday. They set a “hold” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Kellanova from $66.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler lifted their target price on shares of Kellanova from $63.00 to $83.50 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Royal Bank of Canada cut shares of Kellanova from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $76.00 to $83.50 in a research report on Thursday, August 15th. Finally, Wells Fargo & Company lifted their price objective on Kellanova from $76.00 to $83.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Kellanova has an average rating of “Hold” and a consensus price target of $76.35.

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.