WK Kellogg Co (NYSE:KLG) Stock Position Raised by Captrust Financial Advisors

Captrust Financial Advisors lifted its position in WK Kellogg Co (NYSE:KLG) by 12,352.1% in the 3rd quarter, according to the company in its most recent 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 about 1.76% of WK Kellogg worth $25,946,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in KLG. Royce & Associates LP grew its position in WK Kellogg by 199.8% in the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock worth $1,232,000 after acquiring an additional 47,973 shares in the last quarter. Seven Eight Capital LP bought a new stake in WK Kellogg in the second quarter worth $577,000. Abundance Wealth Counselors acquired a new position in WK Kellogg during the second quarter worth $613,000. Atlas Financial Advisors Inc. bought a new position in WK Kellogg during the third quarter valued at about $818,000. Finally, Acadian Asset Management LLC lifted its position in shares of WK Kellogg by 64,642.1% in the second quarter. Acadian Asset Management LLC now owns 73,806 shares of the company’s stock worth $1,213,000 after buying an additional 73,692 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Insider Activity

In other news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KLG. Barclays increased 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. JPMorgan Chase & Co. lowered their price target 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 research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and a consensus price target of $18.88.

WK Kellogg Stock Performance

KLG opened at $20.80 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The stock’s 50 day moving average price is $17.74 and its two-hundred day moving average price is $17.71. The firm has a market capitalization of $1.79 billion and a P/E ratio of 26.67. WK Kellogg Co has a 12-month low of $10.99 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. WK Kellogg’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. On average, equities analysts forecast that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.08%. WK Kellogg’s payout ratio is 82.05%.

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.