Barclays PLC raised its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 406.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,710 shares of the company's stock after buying an additional 103,301 shares during the period. Barclays PLC owned approximately 0.15% of WK Kellogg worth $2,202,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Captrust Financial Advisors increased its stake in shares of WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company's stock valued at $25,946,000 after acquiring an additional 1,504,239 shares during the period. AQR Capital Management LLC raised its stake in shares of WK Kellogg by 579.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company's stock worth $23,107,000 after buying an additional 1,197,133 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of WK Kellogg by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company's stock valued at $19,240,000 after buying an additional 266,877 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of WK Kellogg by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company's stock valued at $19,036,000 after purchasing an additional 79,808 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in WK Kellogg by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company's stock worth $14,891,000 after buying an additional 77,262 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors.
Insider Transactions at WK Kellogg
In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the business's stock in a transaction on Thursday, November 14th. The shares were 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 owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company's stock.
WK Kellogg Stock Performance
Shares of NYSE KLG traded up $0.04 during trading hours on Thursday, reaching $18.21. 514,304 shares of the stock were exchanged, compared to its average volume of 1,041,098. 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 52 week low of $12.32 and a 52 week high of $24.63. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 23.35 and a beta of 0.07. The stock's fifty day simple moving average is $18.63 and its 200 day simple moving average is $17.72.
WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. WK Kellogg's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Sell-side analysts predict that WK Kellogg Co will post 1.49 EPS for the current year.
WK Kellogg Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg's dividend payout ratio is currently 82.05%.
Wall Street Analyst Weigh In
Separately, Barclays lifted their price target 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 four have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.71.
Check Out Our Latest Analysis on KLG
WK Kellogg Company Profile
(
Free Report)
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.
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