MetLife Investment Management LLC Raises Stock Holdings in WK Kellogg Co (NYSE:KLG)

MetLife Investment Management LLC boosted its stake in WK Kellogg Co (NYSE:KLG) by 129.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,262 shares of the company’s stock after purchasing an additional 21,559 shares during the quarter. MetLife Investment Management LLC’s holdings in WK Kellogg were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after buying an additional 888 shares in the last quarter. Rothschild Investment LLC bought a new position in WK Kellogg in the second quarter valued at $46,000. Abich Financial Wealth Management LLC raised its position in WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after purchasing an additional 4,362 shares in the last quarter. International Assets Investment Management LLC lifted its stake in WK Kellogg by 1,724.1% during the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in WK Kellogg during the third quarter worth about $99,000. 95.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

WK Kellogg Stock Down 1.6 %

KLG opened at $20.38 on Friday. WK Kellogg Co has a 12 month low of $11.37 and a 12 month high of $24.63. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $18.07 and its 200-day moving average price is $17.68. The company has a market cap of $1.76 billion, a P/E ratio of 26.13 and a beta of 0.07.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for 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 business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities analysts expect that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The company 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 3.14%. The ex-dividend date is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Analysts Set New Price Targets

Separately, Barclays raised 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. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.88.

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.