Healthcare of Ontario Pension Plan Trust Fund Cuts Position in WK Kellogg Co (NYSE:KLG)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 83.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,600 shares of the company's stock after selling 63,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in WK Kellogg were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KLG. Alpha Omega Wealth Management LLC raised its position in WK Kellogg by 4.9% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company's stock valued at $220,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC lifted its position in WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock worth $32,000 after acquiring an additional 888 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of WK Kellogg by 15.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company's stock valued at $276,000 after acquiring an additional 2,009 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of WK Kellogg in the second quarter worth $46,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of WK Kellogg by 65.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company's stock worth $151,000 after purchasing an additional 3,471 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Barclays lifted their price target on WK Kellogg from $16.00 to $19.00 and gave the company an "underweight" rating in a research note 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $18.88.

WK Kellogg Stock Down 2.6 %

Shares of NYSE:KLG traded down $0.55 during trading hours on Tuesday, reaching $20.80. The stock had a trading volume of 1,104,533 shares, compared to its average volume of 1,050,999. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 26.64 and a beta of 0.07. The firm's 50 day moving average is $17.82 and its 200-day moving average is $17.66. WK Kellogg Co has a 1 year low of $11.22 and a 1 year high of $24.63. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. The company 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%. WK Kellogg's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Research analysts predict that WK Kellogg Co will post 1.49 earnings per share 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. Stockholders of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.08%. WK Kellogg's dividend payout ratio is presently 82.05%.

Insider Activity

In related news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the purchase, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.