Captrust Financial Advisors Has $25.95 Million Stock Position in WK Kellogg Co (NYSE:KLG)

Captrust Financial Advisors grew its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 12,352.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,516,417 shares of the company's stock after buying an additional 1,504,239 shares during the quarter. Captrust Financial Advisors owned approximately 1.76% of WK Kellogg worth $25,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company's stock valued at $23,107,000 after buying an additional 1,197,133 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company's stock valued at $19,036,000 after buying an additional 79,808 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 valued at $14,891,000 after buying an additional 77,262 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of WK Kellogg by 64.4% in the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company's stock valued at $14,370,000 after buying an additional 341,939 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company's stock valued at $8,865,000 after buying an additional 298,700 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays lifted their price objective on WK Kellogg from $16.00 to $19.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, WK Kellogg currently has an average rating of "Hold" and a consensus price target of $18.88.

WK Kellogg Stock Down 2.8 %

Shares of NYSE:KLG traded down $0.60 during trading on Friday, hitting $20.80. 790,606 shares of the company's stock traded hands, compared to its average volume of 1,049,890. WK Kellogg Co has a 52 week low of $10.99 and a 52 week high of $24.63. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The company has a market cap of $1.79 billion and a price-to-earnings ratio of 26.67. The company has a 50-day moving average price of $17.74 and a 200-day moving average price of $17.69.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data 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 return on equity of 33.41% and a net margin of 2.50%. 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 EPS. WK Kellogg's revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts forecast that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 29th. WK Kellogg's payout ratio is 82.05%.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the business's stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the purchase, the director now owns 195,000 shares of the company's stock, valued at approximately $3,463,200. The trade was a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% of the company's stock.

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.