PDT Partners LLC Raises Stock Holdings in WK Kellogg Co (NYSE:KLG)

PDT Partners LLC lifted its position in WK Kellogg Co (NYSE:KLG - Free Report) by 65.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,396 shares of the company's stock after buying an additional 53,603 shares during the quarter. PDT Partners LLC owned approximately 0.16% of WK Kellogg worth $2,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock valued at $32,000 after acquiring an additional 888 shares during the last quarter. Rothschild Investment LLC bought a new position in WK Kellogg during the second quarter valued at approximately $46,000. Abich Financial Wealth Management LLC grew its position in WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company's stock valued at $77,000 after acquiring an additional 4,362 shares during the last quarter. International Assets Investment Management LLC grew 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 valued at $80,000 after acquiring an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in WK Kellogg during the third quarter valued at approximately $99,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund purchased 65,000 shares of the business's stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company's stock.

WK Kellogg Stock Down 2.8 %

WK Kellogg stock traded down $0.60 on Friday, hitting $20.80. 790,606 shares of the stock traded hands, compared to its average volume of 1,220,586. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The firm has a market cap of $1.79 billion and a P/E ratio of 26.67. The business's fifty day simple moving average is $17.74 and its 200 day simple moving average is $17.66. WK Kellogg Co has a 1 year low of $10.99 and a 1 year high of $24.63.

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 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 firm had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. During the same period last year, the company earned $0.49 earnings per share. The company's revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. WK Kellogg's dividend payout ratio is currently 82.05%.

Analyst Upgrades and Downgrades

KLG has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Barclays raised their price target on WK Kellogg from $16.00 to $19.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.88.

WK Kellogg 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.