Royce & Associates LP Increases Stock Position in WK Kellogg Co (NYSE:KLG)

Royce & Associates LP grew its position in WK Kellogg Co (NYSE:KLG - Free Report) by 199.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,987 shares of the company's stock after acquiring an additional 47,973 shares during the quarter. Royce & Associates LP owned about 0.08% of WK Kellogg worth $1,232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KLG. GAMMA Investing LLC raised its holdings in WK Kellogg by 88.6% in the 3rd 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. EntryPoint Capital LLC acquired a new stake in shares of WK Kellogg in the first quarter valued at approximately $42,000. Rothschild Investment LLC purchased a new position in WK Kellogg during the second quarter worth approximately $46,000. Abich Financial Wealth Management LLC boosted its stake 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 worth $77,000 after buying an additional 4,362 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company's stock valued at $80,000 after buying an additional 4,431 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on KLG. Stifel Nicolaus reduced their price target on WK Kellogg from $22.00 to $18.00 and set a "hold" rating on the stock in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on shares of WK Kellogg from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays increased their price target on shares of 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 stock. According to data from MarketBeat.com, WK Kellogg currently has an average rating of "Hold" and a consensus target price of $18.88.

Insider Activity at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the transaction, the director now owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

WK Kellogg Trading Down 0.8 %

Shares of KLG traded down $0.14 during trading on Wednesday, reaching $17.06. 349,440 shares of the company traded hands, compared to its average volume of 1,037,156. The stock has a 50-day simple moving average of $17.48 and a 200-day simple moving average of $17.79. The stock has a market cap of $1.47 billion and a PE ratio of 22.04. WK Kellogg Co has a twelve month low of $10.99 and a twelve month high of $24.63. 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 posted its 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 net margin of 2.50% and a return on equity of 33.41%. The firm had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. During the same quarter last year, the firm earned $0.49 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The company 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 3.75%. The ex-dividend date is Friday, November 29th. WK Kellogg's payout ratio is 82.05%.

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.