Spire Wealth Management Has $708,000 Holdings in Kellanova (NYSE:K)

Spire Wealth Management raised its position in shares of Kellanova (NYSE:K - Free Report) by 523.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,580 shares of the company's stock after purchasing an additional 7,203 shares during the quarter. Spire Wealth Management's holdings in Kellanova were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Grove Bank & Trust acquired a new stake in shares of Kellanova during the 1st quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $32,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. grew its position in shares of Kellanova by 64.8% during the 4th quarter. First Horizon Advisors Inc. now owns 440 shares of the company's stock worth $36,000 after buying an additional 173 shares during the period. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Kellanova during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Citigroup raised shares of Kellanova to a "neutral" rating and set a $83.50 price target for the company in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada downgraded shares of Kellanova from a "moderate buy" rating to a "hold" rating in a research report on Friday, March 14th. Fourteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Kellanova currently has an average rating of "Hold" and a consensus target price of $79.75.

Insider Buying and Selling at Kellanova

In other news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, April 14th. The stock was sold at an average price of $82.41, for a total transaction of $9,442,785.03. Following the sale, the insider now directly owns 47,159,948 shares in the company, valued at $3,886,451,314.68. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 1,260,413 shares of company stock worth $102,970,013. Corporate insiders own 1.80% of the company's stock.

Kellanova Price Performance

Shares of NYSE:K opened at $79.08 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.25. The stock's fifty day simple moving average is $81.57 and its two-hundred day simple moving average is $81.77. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The stock has a market cap of $27.43 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.13 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Kellanova had a net margin of 10.93% and a return on equity of 34.80%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the business posted $1.01 earnings per share. Kellanova's revenue was down 3.7% on a year-over-year basis. As a group, analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.88%. Kellanova's dividend payout ratio (DPR) is presently 57.58%.

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.

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