Principal Financial Group Inc. Has $5.36 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

Principal Financial Group Inc. reduced its stake in WK Kellogg Co (NYSE:KLG) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 313,343 shares of the company’s stock after selling 15,223 shares during the period. Principal Financial Group Inc. owned 0.36% of WK Kellogg worth $5,361,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KLG. GAMMA Investing LLC grew its stake 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 buying an additional 888 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of WK Kellogg in the second quarter valued at approximately $46,000. Abich Financial Wealth Management LLC increased its stake in shares of WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the period. International Assets Investment Management LLC lifted its holdings in WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in WK Kellogg in the 3rd quarter valued at $99,000. 95.74% of the stock is owned by institutional investors.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average price 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 approximately $3,463,200. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Barclays increased their price objective on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.71.

WK Kellogg Stock Up 1.4 %

KLG stock opened at $17.99 on Thursday. The company has a market cap of $1.55 billion, a PE ratio of 23.06 and a beta of 0.07. 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. The business has a 50-day simple moving average of $18.68 and a 200 day simple moving average of $17.72.

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

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.56%. WK Kellogg’s payout ratio is 82.05%.

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.