Geode Capital Management LLC Buys 38,939 Shares of WK Kellogg Co (NYSE:KLG)

Geode Capital Management LLC raised its stake in WK Kellogg Co (NYSE:KLGFree Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,507,713 shares of the company’s stock after purchasing an additional 38,939 shares during the quarter. Geode Capital Management LLC owned 1.75% of WK Kellogg worth $25,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after purchasing an additional 888 shares during the period. Rothschild Investment LLC bought a new position in WK Kellogg during the 2nd quarter valued at approximately $46,000. Abich Financial Wealth Management LLC lifted its holdings in WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after buying an additional 4,362 shares during the period. International Assets Investment Management LLC grew its position in shares of WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after buying an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of WK Kellogg during the third quarter valued at approximately $99,000. Institutional investors own 95.74% of the company’s stock.

Insider Activity at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $17.94 per share, for a total transaction of $1,166,100.00. Following the completion of the purchase, the director now owns 65,000 shares of the company’s stock, valued at $1,166,100. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

WK Kellogg Stock Down 1.8 %

KLG stock opened at $17.88 on Friday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.92 and a beta of 0.07. 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 business’s 50 day moving average price is $18.66 and its two-hundred day moving average price is $17.72. WK Kellogg Co has a fifty-two week low of $12.32 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLGGet Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, analysts forecast that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.58%. WK Kellogg’s dividend payout ratio (DPR) is currently 82.05%.

Wall Street Analyst Weigh In

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

Get Our Latest Research Report on KLG

WK Kellogg Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WK Kellogg (NYSE:KLG)

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