WK Kellogg Co (NYSE:KLG) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its position in WK Kellogg Co (NYSE:KLG) by 31.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,124,503 shares of the company’s stock after purchasing an additional 266,877 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in WK Kellogg were worth $19,240,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of KLG. Royce & Associates LP boosted its stake in WK Kellogg by 199.8% in the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock valued at $1,232,000 after acquiring an additional 47,973 shares during the period. Seven Eight Capital LP bought a new stake in shares of WK Kellogg during the second quarter valued at approximately $577,000. Abundance Wealth Counselors bought a new stake in shares of WK Kellogg during the second quarter valued at approximately $613,000. Captrust Financial Advisors raised its holdings 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 buying an additional 1,504,239 shares during the last quarter. Finally, Atlas Financial Advisors Inc. bought a new stake in shares of WK Kellogg during the third quarter valued at approximately $818,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Down 0.8 %

NYSE KLG opened at $20.61 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The firm has a 50-day simple moving average of $17.95 and a 200 day simple moving average of $17.68. WK Kellogg Co has a twelve month low of $11.22 and a twelve month high of $24.63. The stock has a market cap of $1.78 billion, a PE ratio of 26.42 and a beta of 0.05.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results 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. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm had revenue of $689.00 million during the quarter, compared to analyst estimates of $674.10 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The company 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. This represents a $0.64 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, November 29th. WK Kellogg’s payout ratio is 82.05%.

Analysts Set New Price Targets

Several brokerages recently commented on KLG. JPMorgan Chase & Co. dropped 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. Barclays lifted their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.88.

Insider Transactions at WK Kellogg

In other news, Director G Zachary Gund acquired 65,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was bought 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 represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available 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.