PDT Partners LLC Grows Holdings in WK Kellogg Co (NYSE:KLG)

PDT Partners LLC grew its position in shares of WK Kellogg Co (NYSE:KLG) by 65.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 135,396 shares of the company’s stock after purchasing an additional 53,603 shares during the quarter. PDT Partners LLC’s holdings in WK Kellogg were worth $2,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors boosted its position in WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after acquiring an additional 1,504,239 shares during the last quarter. AQR Capital Management LLC grew its position 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 purchasing an additional 1,197,133 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 79,808 shares during the last quarter. Bank of New York Mellon Corp lifted its position in WK Kellogg by 9.3% during 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 period. Finally, Jupiter Asset Management Ltd. boosted its stake in WK Kellogg by 64.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after buying an additional 341,939 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of WK Kellogg stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $1,166,100.00. Following the purchase, the director now owns 65,000 shares in the company, valued at $1,166,100. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

WK Kellogg Price Performance

KLG stock opened at $20.80 on Friday. The stock has a 50-day simple moving average of $17.74 and a 200-day simple moving average of $17.69. The firm has a market cap of $1.79 billion and a P/E ratio of 26.67. 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 1 year low of $10.99 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data 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 company had revenue of $689.00 million during 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 revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, equities analysts predict that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays lifted their price target on shares of 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. decreased their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.88.

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.