Massachusetts Financial Services Co. MA Has $19.03 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

Massachusetts Financial Services Co. MA lessened its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,112,336 shares of the company's stock after selling 287,718 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.29% of WK Kellogg worth $19,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased 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 acquiring an additional 888 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of WK Kellogg during the 1st quarter worth about $42,000. Rothschild Investment LLC bought a new stake in shares of WK Kellogg during the 2nd quarter worth about $46,000. Abich Financial Wealth Management LLC grew its stake in WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company's stock valued at $77,000 after buying an additional 4,362 shares during the last quarter. Finally, International Assets Investment Management LLC raised 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 acquiring an additional 4,431 shares during the period. Institutional investors own 95.74% of the company's stock.

WK Kellogg Price Performance

Shares of KLG traded up $0.86 during trading hours on Tuesday, hitting $21.01. 2,168,722 shares of the company were exchanged, compared to its average volume of 1,049,543. 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 Co has a fifty-two week low of $10.99 and a fifty-two week high of $24.63. The company has a market cap of $1.81 billion and a price-to-earnings ratio of 26.93. The firm's fifty day moving average is $17.56 and its 200 day moving average is $17.66.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $689.00 million during the quarter, compared to analysts' expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. On average, equities analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. WK Kellogg's payout ratio is 82.05%.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KLG. JPMorgan Chase & Co. reduced their price objective on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. 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. Three equities 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, WK Kellogg presently has an average rating of "Hold" and a consensus price target 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.