WK Kellogg Co (NYSE:KLG) Shares Sold by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC cut its holdings in WK Kellogg Co (NYSE:KLG) by 39.3% in the 4th quarter, HoldingsChannel reports. The fund owned 15,589 shares of the company’s stock after selling 10,112 shares during the period. Impact Partnership Wealth LLC’s holdings in WK Kellogg were worth $280,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in KLG. Dimensional Fund Advisors LP boosted its stake in WK Kellogg by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,258 shares of the company’s stock worth $7,232,000 after buying an additional 46,735 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of WK Kellogg by 6.3% in the second quarter. Public Sector Pension Investment Board now owns 145,471 shares of the company’s stock worth $2,394,000 after acquiring an additional 8,647 shares during the last quarter. AQR Capital Management LLC increased its position in WK Kellogg by 579.1% during the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after purchasing an additional 1,197,133 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in WK Kellogg by 158.0% during the second quarter. The Manufacturers Life Insurance Company now owns 33,726 shares of the company’s stock worth $555,000 after purchasing an additional 20,656 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of WK Kellogg in the 2nd quarter valued at $183,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays reduced their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $18.14.

WK Kellogg Trading Down 0.1 %

KLG opened at $16.95 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 21.73 and a beta of 0.72. The firm’s 50 day moving average is $18.42 and its 200-day moving average is $17.66. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. WK Kellogg Co has a 52-week low of $12.32 and a 52-week high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, November 29th. WK Kellogg’s payout ratio is currently 82.05%.

Insider Buying and Selling

In other news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the acquisition, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The acquisition 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 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.