WK Kellogg Co (NYSE:KLG) Holdings Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in shares of WK Kellogg Co (NYSE:KLG) by 20.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,112,336 shares of the company’s stock after selling 287,718 shares during the period. Massachusetts Financial Services Co. MA owned about 1.29% of WK Kellogg worth $19,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KLG. Landscape Capital Management L.L.C. acquired a new stake in WK Kellogg during the third quarter valued at $1,507,000. Intech Investment Management LLC purchased a new stake in shares of WK Kellogg during the 3rd quarter worth about $997,000. Royce & Associates LP lifted its holdings in shares of WK Kellogg by 199.8% during the 3rd quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock valued at $1,232,000 after buying an additional 47,973 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of WK Kellogg by 32.6% in the 3rd quarter. Victory Capital Management Inc. now owns 17,761 shares of the company’s stock valued at $304,000 after buying an additional 4,369 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in WK Kellogg in the third quarter worth approximately $602,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director G Zachary Gund acquired 65,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on KLG. JPMorgan Chase & Co. reduced 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 upped their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.88.

WK Kellogg Stock Up 7.1 %

WK Kellogg stock opened at $20.19 on Tuesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. WK Kellogg Co has a fifty-two week low of $10.99 and a fifty-two week high of $24.63. The firm has a fifty day moving average price of $17.50 and a two-hundred day moving average price of $17.67. The firm has a market cap of $1.74 billion and a price-to-earnings ratio of 25.88.

WK Kellogg (NYSE:KLG) last announced its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. As a group, analysts forecast that WK Kellogg Co will post 1.49 earnings per share 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 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.