Intech Investment Management LLC Takes $997,000 Position in WK Kellogg Co (NYSE:KLG)

Intech Investment Management LLC acquired a new position in WK Kellogg Co (NYSE:KLG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 58,269 shares of the company's stock, valued at approximately $997,000. Intech Investment Management LLC owned approximately 0.07% of WK Kellogg as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock worth $32,000 after purchasing an additional 888 shares during the last quarter. Rothschild Investment LLC purchased a new position in WK Kellogg in the second quarter worth about $46,000. Abich Financial Wealth Management LLC boosted its position in WK Kellogg by 3,575.4% in the third 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 boosted its position in WK Kellogg by 1,724.1% in 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 last quarter. Finally, nVerses Capital LLC purchased a new position in WK Kellogg in the third quarter worth about $99,000. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Price Performance

KLG traded up $0.56 on Thursday, hitting $21.56. 1,388,350 shares of the company's stock traded hands, compared to its average volume of 1,051,017. The company's 50 day simple moving average is $17.69 and its 200-day simple moving average is $17.72. The firm has a market cap of $1.86 billion and a price-to-earnings ratio of 27.64. WK Kellogg Co has a one year low of $10.99 and a one year high of $24.63. 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 (NYSE:KLG - Get Free Report) last issued its 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. The company had revenue of $689.00 million for the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.49 EPS. As a group, research analysts anticipate that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently announced 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. This represents a $0.64 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg's dividend payout ratio (DPR) is presently 82.05%.

Insider Activity at WK Kellogg

In other news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the purchase, the director now directly owns 65,000 shares in the company, valued at $1,166,100. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on KLG. Barclays raised their target price on WK Kellogg from $16.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. 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 research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, WK Kellogg currently has a consensus rating of "Hold" and an average price target of $18.88.

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.