WK Kellogg Co (NYSE:KLG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in WK Kellogg Co (NYSE:KLG) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in 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. Bank of New York Mellon Corp grew its holdings in WK Kellogg by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock worth $14,891,000 after acquiring an additional 77,262 shares during the period. Jupiter Asset Management Ltd. raised its position in WK Kellogg by 64.4% in the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after acquiring an additional 341,939 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in WK Kellogg by 124.5% in 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 last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of WK Kellogg during the 1st quarter valued at about $8,998,000. 95.74% of the stock is currently owned by institutional investors.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the acquisition, the director now owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KLG has been the subject of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Barclays raised their price objective 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 research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.88.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $17.08 on Thursday. The company has a market cap of $1.47 billion and a price-to-earnings ratio of 21.90. The business has a 50 day moving average price of $17.48 and a 200 day moving average price of $17.79. 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 twelve month low of $10.99 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last released its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Research analysts predict that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.75%. WK Kellogg’s dividend payout ratio is currently 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.