WK Kellogg Co (NYSE:KLG) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC increased its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 563.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 333,321 shares of the company's stock after purchasing an additional 283,104 shares during the quarter. Verition Fund Management LLC owned 0.39% of WK Kellogg worth $5,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 888 shares during the period. Rothschild Investment LLC acquired a new position in shares of WK Kellogg in the second quarter valued at approximately $46,000. Abich Financial Wealth Management LLC increased its position in WK Kellogg by 3,575.4% during the 3rd 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 period. International Assets Investment Management LLC grew its stake in shares of WK Kellogg by 1,724.1% during the 3rd 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 period. Finally, nVerses Capital LLC purchased a new position in WK Kellogg in the third quarter valued at about $99,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $17.94 per share, with a total value of $1,166,100.00. Following the completion of the purchase, the director now directly owns 65,000 shares of the company's stock, valued at $1,166,100. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KLG shares. JPMorgan Chase & Co. cut their target price on shares of 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 target price on WK Kellogg from $16.00 to $19.00 and gave the company an "underweight" rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.88.

WK Kellogg Price Performance

NYSE:KLG traded down $0.55 during mid-day trading on Tuesday, reaching $20.80. The stock had a trading volume of 1,104,543 shares, compared to its average volume of 1,050,999. The firm has a 50 day moving average price of $17.89 and a two-hundred day moving average price of $17.66. 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 Co has a one year low of $11.22 and a one year high of $24.63. The stock has a market capitalization of $1.79 billion, a P/E ratio of 26.67 and a beta of 0.05.

WK Kellogg (NYSE:KLG - Get Free Report) last released 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 net margin of 2.50% and a return on equity of 33.41%. The business had revenue of $689.00 million for the quarter, compared to analysts' expectations of $674.10 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The firm's revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts expect 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%.

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.