Nordea Investment Management AB Has $1.11 Million Stock Position in WK Kellogg Co (NYSE:KLG)

Nordea Investment Management AB increased its holdings in shares of WK Kellogg Co (NYSE:KLG) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,249 shares of the company’s stock after purchasing an additional 6,135 shares during the period. Nordea Investment Management AB owned approximately 0.07% of WK Kellogg worth $1,109,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in KLG. GAMMA Investing LLC lifted its position in WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after acquiring an additional 888 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the period. International Assets Investment Management LLC grew its stake in WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares in the last quarter. nVerses Capital LLC purchased a new position in WK Kellogg in the 3rd quarter valued at approximately $99,000. Finally, Nisa Investment Advisors LLC grew its stake in WK Kellogg by 65.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after buying an additional 3,471 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KLG. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Barclays boosted their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, WK Kellogg currently has an average rating of “Reduce” and a consensus price target of $18.57.

WK Kellogg Stock Performance

NYSE KLG opened at $15.59 on Monday. WK Kellogg Co has a 52-week low of $12.32 and a 52-week high of $24.63. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The company has a market capitalization of $1.34 billion, a P/E ratio of 19.99 and a beta of 0.72. The company has a fifty day moving average of $18.68 and a 200-day moving average of $17.70.

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

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg’s dividend payout ratio is presently 82.05%.

Insiders Place Their Bets

In other news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased 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 owns 195,000 shares in the company, valued at approximately $3,463,200. The trade was a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

WK Kellogg 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.