Quantbot Technologies LP Lowers Holdings in WK Kellogg Co (NYSE:KLG)

Quantbot Technologies LP reduced its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 37.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,838 shares of the company's stock after selling 37,387 shares during the period. Quantbot Technologies LP owned 0.07% of WK Kellogg worth $1,075,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position 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 valued at $32,000 after acquiring an additional 888 shares during the last quarter. Rothschild Investment LLC acquired a new position in WK Kellogg in the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC grew its stake in shares of 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 period. International Assets Investment Management LLC increased its holdings 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 buying an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in WK Kellogg in the third quarter valued at $99,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

WK Kellogg Stock Down 2.8 %

Shares of WK Kellogg stock traded down $0.60 on Friday, reaching $20.80. 790,606 shares of the company were exchanged, compared to its average volume of 1,220,586. WK Kellogg Co has a 1-year low of $10.99 and a 1-year high of $24.63. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The company has a market cap of $1.79 billion and a P/E ratio of 26.67. The stock's 50 day moving average price is $17.74 and its 200-day moving average price is $17.69.

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

WK Kellogg Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, November 29th. WK Kellogg's dividend payout ratio is currently 82.05%.

Insiders Place Their Bets

In related news, Director G Zachary Gund bought 65,000 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

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.