Private Management Group Inc. Has $5.81 Million Position in WK Kellogg Co (NYSE:KLG)

Private Management Group Inc. lowered its holdings in WK Kellogg Co (NYSE:KLG) by 37.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 323,024 shares of the company’s stock after selling 189,462 shares during the quarter. Private Management Group Inc. owned about 0.38% of WK Kellogg worth $5,811,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in WK Kellogg by 12,352.1% during the 3rd 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. Geode Capital Management LLC boosted its holdings in WK Kellogg by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after acquiring an additional 38,939 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in WK Kellogg by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock worth $19,240,000 after acquiring an additional 266,877 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in WK Kellogg by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after acquiring an additional 79,808 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in WK Kellogg by 72.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock worth $9,283,000 after acquiring an additional 227,730 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Insider Activity at WK Kellogg

In other news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KLG shares. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Jefferies Financial Group cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus cut their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Barclays cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.88.

WK Kellogg Trading Down 2.3 %

NYSE KLG opened at $16.27 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.85 and a beta of 0.71. WK Kellogg Co has a one year low of $12.32 and a one year high of $24.63. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The business’s fifty day moving average is $18.07 and its 200-day moving average is $17.70.

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, beating analysts’ consensus estimates 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 period in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts predict that WK Kellogg Co will post 1.48 EPS for the current year.

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.