Intech Investment Management LLC Invests $997,000 in WK Kellogg Co (NYSE:KLG)

Intech Investment Management LLC purchased a new stake in WK Kellogg Co (NYSE:KLG) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 58,269 shares of the company’s stock, valued at approximately $997,000.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of WK Kellogg by 579.1% in 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of WK Kellogg by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock worth $14,891,000 after buying an additional 77,262 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of WK Kellogg by 64.4% during the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock valued at $14,370,000 after buying an additional 341,939 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of 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 period. Finally, Dimensional Fund Advisors LP raised its stake in WK Kellogg by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,258 shares of the company’s stock worth $7,232,000 after acquiring an additional 46,735 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KLG. Barclays increased their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.88.

WK Kellogg Trading Up 2.7 %

Shares of NYSE:KLG opened at $21.56 on Thursday. 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 $10.99 and a 12-month high of $24.63. The business has a 50 day moving average of $17.63 and a two-hundred day moving average of $17.69. The company has a market capitalization of $1.86 billion and a PE ratio of 27.64.

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

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.97%. WK Kellogg’s dividend payout ratio is presently 82.05%.

Insider Buying and Selling

In related news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

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.