CWA Asset Management Group LLC Acquires 32,218 Shares of WK Kellogg Co (NYSE:KLG)

CWA Asset Management Group LLC increased its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 191.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 49,010 shares of the company's stock after purchasing an additional 32,218 shares during the period. CWA Asset Management Group LLC owned 0.06% of WK Kellogg worth $882,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of WK Kellogg by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 61,249 shares of the company's stock valued at $1,109,000 after purchasing an additional 6,135 shares in the last quarter. GAMMA Investing LLC boosted its stake in WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after buying an additional 933 shares during the period. JPMorgan Chase & Co. grew its position in WK Kellogg by 69.1% during the third quarter. JPMorgan Chase & Co. now owns 313,182 shares of the company's stock worth $5,359,000 after buying an additional 127,984 shares in the last quarter. Franklin Resources Inc. increased its stake in WK Kellogg by 13.3% in the 3rd quarter. Franklin Resources Inc. now owns 170,161 shares of the company's stock worth $3,010,000 after acquiring an additional 20,033 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of WK Kellogg in the 3rd quarter valued at about $515,000. Institutional investors own 95.74% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on KLG. TD Cowen lowered WK Kellogg from a "hold" rating to a "sell" rating and cut their price objective for the stock from $18.00 to $16.00 in a report on Wednesday. Barclays boosted 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. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $18.57.

WK Kellogg Price Performance

Shares of KLG stock traded down $1.19 during trading hours on Wednesday, hitting $16.31. 1,932,322 shares of the company's stock were exchanged, compared to its average volume of 1,061,599. The company has a market capitalization of $1.40 billion, a PE ratio of 20.91 and a beta of 0.72. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. WK Kellogg Co has a 12-month low of $12.32 and a 12-month high of $24.63. The business's 50 day simple moving average is $18.72 and its 200-day simple moving average is $17.72.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million for the quarter, compared to analysts' expectations of $674.10 million. During the same quarter last year, the company earned $0.49 EPS. The firm's revenue was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.92%. WK Kellogg's payout ratio is 82.05%.

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 stock was acquired at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the transaction, the director now directly owns 65,000 shares of the company's stock, valued at approximately $1,166,100. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company's stock.

About WK Kellogg

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.