KBC Group NV Decreases Position in WK Kellogg Co (NYSE:KLG)

KBC Group NV lowered its position in WK Kellogg Co (NYSE:KLG) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,978 shares of the company’s stock after selling 781 shares during the quarter. KBC Group NV owned 0.05% of WK Kellogg worth $735,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in WK Kellogg in the 2nd quarter valued at about $577,000. Abundance Wealth Counselors acquired a new stake in shares of WK Kellogg in the second quarter valued at approximately $613,000. Atlas Financial Advisors Inc. purchased a new position in shares of WK Kellogg during the 3rd quarter worth approximately $818,000. Acadian Asset Management LLC raised its position in shares of WK Kellogg by 64,642.1% during the 2nd quarter. Acadian Asset Management LLC now owns 73,806 shares of the company’s stock worth $1,213,000 after purchasing an additional 73,692 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in WK Kellogg by 63.0% in the 2nd quarter. WINTON GROUP Ltd now owns 270,395 shares of the company’s stock valued at $4,451,000 after buying an additional 104,533 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $17.94 per share, with a total value of $1,166,100.00. Following the transaction, the director now owns 65,000 shares of the company’s stock, valued at $1,166,100. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Barclays lifted 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. Finally, Stifel Nicolaus reduced their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, WK Kellogg has an average rating of “Hold” and an average target price of $18.88.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $17.10 on Tuesday. The business has a fifty day simple moving average of $17.52 and a 200-day simple moving average of $17.88. WK Kellogg Co has a 52 week low of $10.99 and a 52 week high of $24.63. The company has a market cap of $1.47 billion and a P/E ratio of 21.92. 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 (NYSE:KLG) last posted its quarterly 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 company had revenue of $689.00 million during 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 was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. Equities research analysts forecast that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Friday, November 29th. 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.