WK Kellogg Co (NYSE:KLG) Shares Bought by Stifel Financial Corp

Stifel Financial Corp grew its position in shares of WK Kellogg Co (NYSE:KLG) by 107.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,409 shares of the company’s stock after buying an additional 14,705 shares during the quarter. Stifel Financial Corp’s holdings in WK Kellogg were worth $486,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC increased its stake in shares of WK Kellogg by 4.9% during the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after acquiring an additional 600 shares during the period. GAMMA Investing LLC boosted its holdings in WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of WK Kellogg during the 2nd quarter worth approximately $46,000. Nisa Investment Advisors LLC lifted its holdings in shares of WK Kellogg by 65.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after buying an additional 3,471 shares during the period. Finally, Truist Financial Corp boosted its stake in shares of WK Kellogg by 11.4% in the second quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock valued at $639,000 after buying an additional 3,970 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg stock in a transaction dated 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 completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays raised their target price on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg currently has a consensus rating of “Hold” and a consensus target price of $19.71.

WK Kellogg Stock Performance

NYSE KLG opened at $18.21 on Friday. The business has a 50 day moving average price of $18.63 and a 200 day moving average price of $17.72. The company has a market capitalization of $1.57 billion, a P/E ratio of 23.35 and a beta of 0.07. WK Kellogg Co has a 1-year low of $12.32 and a 1-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.

WK Kellogg (NYSE:KLG) last released 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. The business had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. Sell-side analysts expect that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.51%. WK Kellogg’s dividend payout ratio is presently 82.05%.

About WK Kellogg

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.