SG Americas Securities LLC Sells 4,035 Shares of WK Kellogg Co (NYSE:KLG)

SG Americas Securities LLC lessened its stake in shares of WK Kellogg Co (NYSE:KLG) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,834 shares of the company’s stock after selling 4,035 shares during the quarter. SG Americas Securities LLC’s holdings in WK Kellogg were worth $555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Royce & Associates LP boosted its stake in WK Kellogg by 199.8% in the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock valued at $1,232,000 after acquiring an additional 47,973 shares in the last quarter. Barclays PLC lifted its holdings in shares of WK Kellogg by 406.6% during the 3rd quarter. Barclays PLC now owns 128,710 shares of the company’s stock valued at $2,202,000 after purchasing an additional 103,301 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after purchasing an additional 79,808 shares in the last quarter. CWA Asset Management Group LLC grew its stake in WK Kellogg by 191.9% during the 4th quarter. CWA Asset Management Group LLC now owns 49,010 shares of the company’s stock worth $882,000 after buying an additional 32,218 shares during the last quarter. Finally, Captrust Financial Advisors increased its position 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 valued at $25,946,000 after buying an additional 1,504,239 shares in the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Stock Performance

Shares of NYSE KLG opened at $16.59 on Friday. The company has a 50 day simple moving average of $18.39 and a two-hundred day simple moving average of $17.69. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 21.27 and a beta of 0.72. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. WK Kellogg Co has a 12 month low of $12.32 and a 12 month high of $24.63.

WK Kellogg (NYSE:KLG) last posted its earnings results 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. 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 period in the previous year, the firm posted $0.49 earnings per share. As a group, analysts predict that WK Kellogg Co will post 1.48 earnings per share for the current year.

Insider Buying and Selling

In other news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought 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 owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and lowered their price target for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Barclays lowered their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Stifel Nicolaus cut their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Jefferies Financial Group lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.88.

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.