WK Kellogg Co (NYSE:KLG) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,112,558 shares of the company's stock after purchasing an additional 79,808 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.29% of WK Kellogg worth $19,036,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock worth $32,000 after buying an additional 888 shares in the last quarter. Rothschild Investment LLC purchased a new position in WK Kellogg in the second quarter valued at about $46,000. Abich Financial Wealth Management LLC increased its holdings in WK Kellogg by 3,575.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company's stock worth $77,000 after purchasing an additional 4,362 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company's stock valued at $80,000 after purchasing an additional 4,431 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of WK Kellogg during the 3rd quarter valued at approximately $99,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director G Zachary Gund purchased 65,000 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $17.94 per share, for a total transaction of $1,166,100.00. Following the completion of the purchase, the director now owns 65,000 shares of the company's stock, valued at $1,166,100. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

WK Kellogg Stock Performance

KLG stock traded down $0.34 during trading on Friday, hitting $20.38. 821,349 shares of the company's stock traded hands, compared to its average volume of 1,254,207. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 26.13 and a beta of 0.07. WK Kellogg Co has a 52 week low of $11.37 and a 52 week high of $24.63. The stock has a fifty day moving average price of $18.07 and a two-hundred day moving average price of $17.68. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. WK Kellogg's quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts anticipate that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

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 paid a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. WK Kellogg's payout ratio is currently 82.05%.

Wall Street Analysts Forecast Growth

Separately, Barclays lifted their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.88.

WK Kellogg 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.