Geode Capital Management LLC Has $25.80 Million Holdings in WK Kellogg Co (NYSE:KLG)

Geode Capital Management LLC lifted its position in WK Kellogg Co (NYSE:KLG - Free Report) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,507,713 shares of the company's stock after buying an additional 38,939 shares during the quarter. Geode Capital Management LLC owned about 1.75% of WK Kellogg worth $25,802,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock valued at $32,000 after buying an additional 888 shares during the period. Rothschild Investment LLC bought a new stake in WK Kellogg in the 2nd quarter valued at $46,000. Abich Financial Wealth Management LLC lifted 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 valued at $77,000 after purchasing an additional 4,362 shares during the last quarter. International Assets Investment Management LLC boosted its position in WK Kellogg by 1,724.1% during the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company's stock worth $80,000 after purchasing an additional 4,431 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of WK Kellogg in the third quarter valued at $99,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Performance

Shares of WK Kellogg stock traded down $0.33 during trading on Friday, reaching $17.88. The company's stock had a trading volume of 533,976 shares, compared to its average volume of 1,039,071. WK Kellogg Co has a 52 week low of $12.32 and a 52 week high of $24.63. The firm has a market cap of $1.54 billion, a PE ratio of 22.92 and a beta of 0.07. The business's 50-day moving average price is $18.66 and its 200-day moving average price is $17.72. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million during the quarter, compared to analysts' expectations of $674.10 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm's revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts forecast 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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg's payout ratio is currently 82.05%.

Insider Activity at WK Kellogg

In other news, Director G Zachary Gund purchased 65,000 shares of WK Kellogg stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, the director now owns 195,000 shares of the company's stock, valued at approximately $3,463,200. The trade was a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Barclays lifted 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 research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, WK Kellogg presently has a consensus rating of "Hold" and a consensus price target of $19.71.

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.