WK Kellogg Co (NYSE:KLG) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC increased its stake in shares of WK Kellogg Co (NYSE:KLG) by 1,724.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,688 shares of the company’s stock after acquiring an additional 4,431 shares during the period. International Assets Investment Management LLC’s holdings in WK Kellogg were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in shares of WK Kellogg by 579.1% during the 2nd 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 in the last quarter. Rodgers Brothers Inc. increased its holdings in WK Kellogg by 2,253.3% in the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock valued at $11,721,000 after buying an additional 596,975 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of WK Kellogg by 1,876.1% in the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock worth $9,985,000 after acquiring an additional 504,232 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of WK Kellogg during the 1st quarter worth about $8,998,000. Finally, Renaissance Technologies LLC grew its position in shares of WK Kellogg by 124.5% during the 2nd quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock valued at $8,865,000 after acquiring an additional 298,700 shares during the period. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Price Performance

KLG stock opened at $19.66 on Friday. The business has a 50 day simple moving average of $17.51 and a 200-day simple moving average of $18.21. The company has a market capitalization of $1.69 billion and a P/E ratio of 14.04. WK Kellogg Co has a twelve month low of $10.11 and a twelve month high of $24.63. The company has a current ratio of 0.83, a quick ratio of 0.36 and a debt-to-equity ratio of 1.42.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The business had revenue of $672.00 million for the quarter, compared to analysts’ expectations of $671.50 million. WK Kellogg’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that WK Kellogg Co will post 1.5 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio is currently 45.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus cut their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.50.

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.