WK Kellogg Co (NYSE:KLG) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. increased its holdings in shares of WK Kellogg Co (NYSE:KLG) by 10.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 123,684 shares of the company’s stock after acquiring an additional 12,113 shares during the period. D.A. Davidson & CO.’s holdings in WK Kellogg were worth $2,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KLG. AQR Capital Management LLC grew its holdings in WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after purchasing an additional 1,197,133 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of WK Kellogg by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after buying an additional 79,808 shares in the last quarter. Bank of New York Mellon Corp grew its stake in WK Kellogg by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock valued at $14,891,000 after acquiring an additional 77,262 shares during the period. Jupiter Asset Management Ltd. increased its holdings in WK Kellogg by 64.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after acquiring an additional 341,939 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of WK Kellogg by 124.5% during the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock worth $8,865,000 after purchasing an additional 298,700 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insider Buying and Selling at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $17.94 per share, for a total transaction of $1,166,100.00. Following the acquisition, the director now owns 65,000 shares in the company, valued at $1,166,100. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Barclays upped their target price on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, WK Kellogg presently has an average rating of “Hold” and an average price target of $18.88.

WK Kellogg Price Performance

WK Kellogg stock opened at $20.80 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The stock has a market cap of $1.79 billion and a P/E ratio of 26.67. The company has a 50-day moving average price of $17.74 and a 200 day moving average price of $17.71. WK Kellogg Co has a 12-month low of $10.99 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. Sell-side analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.08%. WK Kellogg’s dividend payout ratio (DPR) is currently 82.05%.

WK Kellogg Company Profile

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.