Jacobs Levy Equity Management Inc. Has $19.24 Million Holdings in WK Kellogg Co (NYSE:KLG)

Jacobs Levy Equity Management Inc. increased its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 31.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,124,503 shares of the company's stock after buying an additional 266,877 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.31% of WK Kellogg worth $19,240,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of WK Kellogg by 12,352.1% in the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company's stock worth $25,946,000 after purchasing an additional 1,504,239 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company's stock valued at $23,107,000 after buying an additional 1,197,133 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in shares of WK Kellogg by 64.4% in the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company's stock valued at $14,370,000 after buying an additional 341,939 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company's stock valued at $8,865,000 after buying an additional 298,700 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of WK Kellogg by 563.8% in the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company's stock valued at $5,703,000 after buying an additional 283,104 shares during the period. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Up 0.8 %

WK Kellogg stock traded up $0.16 during mid-day trading on Thursday, hitting $20.74. The company's stock had a trading volume of 808,367 shares, compared to its average volume of 1,049,379. The firm's 50 day moving average is $18.01 and its 200 day moving average is $17.70. The company has a market cap of $1.79 billion, a PE ratio of 26.58 and a beta of 0.07. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. WK Kellogg Co has a 52-week low of $11.35 and a 52-week high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million during 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 business's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. On average, analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The firm 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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg's dividend payout ratio is currently 82.05%.

Insider Buying and Selling

In other news, Director G Zachary Gund bought 65,000 shares of the company's stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the transaction, the director now directly owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KLG. Barclays upped their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an "underweight" rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.88.

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.